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These are the top 5 stocks with Buy ratings from Wall Street analysts: Microsoft, Amazon, Amyris, Addus Homecare and Alphatec.
Amid an ongoing global strain on stock markets as fueled by the year-long COVID-19 pandemic, investors are often cautious on which company’s shares to buy. While there are many approaches to making investment decisions, some investors follow the lead of top analysts, and as such, we bring you the top 5 stocks Wall Street analysts are unanimously bullish on right now according to a CNBC compilation. This list comes in no particular order.
Addus Homecare Corporation (NASDAQ: ADUS) is a Frisco, Texas-based company that specializes in working with clients and their families to provide home care services on a Private Pay, or self-pay, basis. The company recently inked a value-based navigation agreement with Presbyterian Health Plan, in a bid to offer closer coordination of care for patients as they are discharged from acute care hospitals into their home or into post-acute facilities.
Analyst Frank Morgan from RBC Capital is bullish on the shares of Addus Homecare, giving it a Buy rating and a price target of $136. According to Morgan, the Presbyterian Health Plan deal “positions ADUS for a larger role in post-acute coordination with potential for longer-term shared savings, and second with the COVID relief legislation’s better than expected FMAP increase which demonstrates the federal government’s continued support for personal care and related services amid the pandemic’s residual headwinds.”
Morgan also believes Addus Homecare stands to benefit from the recently passed COVID-19 relief bill. Addus Homecare shares closed Friday’s session up 2.16% to $109.48.
Alphatec Holdings Inc (NASDAQ: ATEC), a medical technology company also ranks as one of the favored stocks from Wall Street analysts, receiving a total of 6 Buy ratings with a $19.67 average stock price forecast.
H.C. Wainwright analyst Sean Lee is among the analysts singing Alphatec’s praises, noting that the ability to maintain a positive revenue of $44 million in the past quarter is commendable.
“We note that the 4Q20 revenues represent a 36% year-over-year increase over 4Q20, which we believe is particularly impressive in light of industry-wide headwinds caused by the ongoing COVID-19 pandemic in the first half of last year,” Lee noted.
Lee also argued that the acquisition of EOS Imaging scheduled to be completed in Q2 2020 will correspondingly boost the long-term revenue growth of the company.
Synthetic biotechnology and renewable chemical company, Amyris Inc (NASDAQ: AMRS) is also one of Wall Street analysts’ delights. Amyris shares have received a Buy rating from H.C. Wainwright analyst Amit Dayal with a price target of $35 up from his previous $11.
Besides Amyris’ positive earnings guidance for the current fiscal year, Dayal believes the changes to the company’s business fundamentals are a bullish basis for growth. In total, Amyris has a Buy rating from three other analysts with an average price target of $25.50. AMRS stock is currently up 5.74% to $20.82.
With the impressive growth of e-commerce giant Amazon.com Inc (NASDAQ: AMZN) in the past year, analysts believe the Jeff Bezos-led company still has enough room to grow. Baird analyst Colin Sebastian has a Buy rating on the stock and a price target of $4,000.
“With the market current focusing on rotation to value, interest rates, reopenings, and tough e-commerce comps, we believe investors may be missing one of the most compelling subscription/quasi-subscription models within the Internet and Technology sectors,” Sebastian noted.
Among the business aspects he cited will spur the company’s growth include the retention and addition of new Amazon Prime Subscribers, the growing embrace of Amazon Web Service (AWS), and general e-commerce innovation being rolled out by the company. Amazon has received a total of 30 Buy ratings from Wall Street analysts. The stock is up 0.16% in the pre-market after closing the previous session up 1.55% to $3,074.96.
Microsoft Is among Top 5 Stocks as Well
Microsoft Corporation (NASDAQ: MSFT) completes the top 5 stocks positively rated by analysts, with Wedbush Securities strategist Dan Ives saying that cloud business is hitting the “next gear of growth” for the Redmond, Washington-based company.
Ives believes the advances in the Microsoft Azure cloud system will compete with AWS for market share noting “this disproportionally benefits the cloud stalwart out of Redmond, as Nadella & Co. are so well positioned in its core enterprise backyard to further deploy its Azure/Office 365 as the cloud backbone and artery.”
Following this reality, Microsoft has received a total of 23 Buy ratings from Wall Street veterans. MSFT is up by 0.67% in the pre-market after a bearish previous close of 0.16% to $230.35.
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