Stocks continue to have another strong month, and Oppenheimer has his eye on several stocks that he thinks are poised to gain momentum over the next 12 months. September has historically been a tough year for stocks, with the S&P 500 index losing an average of 0.7% since 1950. But September this year has told a different story so far, as the market-wide index has risen more than 1% since the beginning of the month. . The Nasdaq Composite and Dow Jones Industrial Average also rose, rising nearly 2% and 1%, respectively. This comes after all three major averages recovered from the global selloff on Aug. 5 and closed higher than last month. This was the fourth straight month of wins for the S&P. With only a few days left in the September trading session, Oppenheimer has put together a list of 32 best stock picks for October, all of which have an Outperform rating. Companies added to the list included Domino’s Pizza and Uber, while companies removed included Goldman Sachs and Instacart. Here are some of the selected names. The new DraftKings addition is one of the company’s top ideas, with analyst Jed Kelly predicting the sports betting company will gain about 30-35% market share in the coming months. There is. DraftKings stock has risen more than 16% since the beginning of the year, and Kelly’s $55 price target implies an upside of almost 34% from Wednesday’s closing price. The company’s stock rose 5% on Wednesday after rival Flutter Entertainment Inc. said it plans to more than double its core earnings by 2027 and buy back $5 billion in stock. Much of the growth outlined by Fan Duel’s parent company is coming from the fast-growing U.S. market. “The product development and customer acquisition capabilities that DKNG has leveraged to become the daily fantasy sports (DFS) market leader will help the company accelerate the transition of U.S. sports betting from illegal/offshore betting to up to $150 billion in wagering. We believe it can become a significant player and a licensed domestic carrier,” analysts wrote in a note to clients. DKNG YTD Mountain DKNG and year-to-date biotech stock Viking Therapeutics also made the list. In addition to an outperform rating, the company has a $138 price target, which suggests an upside of more than 118% as of Wednesday’s close. The company’s stock has already soared more than 239% this year as its experimental obesity treatment progresses through clinical trials. Analyst Jay Olson estimates that if the company’s experimental thyroid hormone beta receptor agonist (VK2809) advances to Phase 3 development, the company’s stock’s current market capitalization (approximately $7 billion) would be We believe that the company is “undervalued” compared to other companies in the same industry. This drug is being investigated as a treatment for patients with a chronic liver disease known as nonalcoholic steatohepatitis (NASH). Wall Street is also completely bullish on Vikings. Of the 13 analysts covering the stock, all rate it a “buy” or “strong buy,” and the average price target of $113.55 suggests it has nearly 80% upside potential going forward. I am doing it. Telecommunications stock AT&T is also the best idea, with a $23 price target suggesting an upside of more than 6%. Analyst Timothy Horan calls the company’s high dividend yield of about 5.2% “attractive.” “We believe there is a unique ability to integrate services and ample scope to use virtualization technology to significantly reduce operating costs and capital expenditures,” the analyst wrote. Horan is not alone in believing this. Analysts at both Goldman Sachs and JPMorgan this week also named AT&T as a top choice in the telecoms business, citing the possibility of a share buyback announcement. The company’s stock price rose 28% in 2024. Other companies on the list include Cigna and semiconductor giant Broadcom, whose targets suggest an increase of more than 14%.
