This Analyst With 85% Accuracy Rate Slashes PT On Bed Bath & Beyond; Here Are 5 Stock Picks For Last Week From Benzinga's Most Accurate Analysts

US stocks closed sharply higher on Friday, with the Dow Jones gaining 700 points during the session. The Dow also added 1.5% during the first week of 2023.

Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst's opinion to trust.

Benzinga's Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.

Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the Analyst Stock Ratings page. One of the ways traders can sort through Benzinga's extensive database of analyst ratings is by analyst accuracy. Here's a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga Analyst Stock Ratings.

• Analyst: John Freeman

Analyst Firm: Raymond James
Ratings Accuracy: 93%
Latest Rating: Maintained a Strong Buy rating on Northern Oil and Gas, Inc. NOG on January 4, 2023, and slashed the price target from $60 to $55. Freeman sees around 86% increase in the company’s stock.

• Analyst: Zachary Fadem

Analyst Firm: Wells Fargo
Ratings Accuracy: 85%
Latest Rating: Maintained an Underweight rating on Bed Bath & Beyond Inc. BBBY on January 5, 2023, and cut the price target from $3 to $2. Fadem predicts around 53% upside in the stock.

• Analyst: Jeanine Wai

Analyst Firm: Barclays
Ratings Accuracy: 82%
Latest Rating: Reiterated an Overweight rating for Chevron Corporation CVX on January 3, 2023, and raised the price target from $196 to $212. This analyst expects around 20% rise in the company’s stock.

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• Analyst: Edward Kelly

Analyst Firm: Wells Fargo
Ratings Accuracy: 81%
Latest Rating: Maintained an Overweight rating for Sysco Corporation SYY on January 4, 2023, and cut the price target from $95 to $87. Kelly sees the stock gaining more than 10%.

• Analyst: Sidney Ho

Analyst Firm: Deutsche Bank
Ratings Accuracy: 81%
Latest Rating: Maintained a Buy rating on SMART Global Holdings, Inc. SGH on January 4, 2023, and cut the price target from $24 to $20. This analyst sees around 28% surge in the stock.