This Analyst With 83% Accuracy Rate Sees Around 7% Upside In Alphabet - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

U.S. stocks closed lower on Friday. All three major indices recorded losses last week, with the Dow Jones losing 1.96%, notching its worst weekly performance since March.

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: Eric Wold

• Analyst Firm: B. Riley Securities
• Ratings Accuracy: 85%
• Latest Rating: Reiterated a Neutral rating on AMC Entertainment Holdings, Inc. AMC with a price target of $4.5 on July 5, 2023. Wold sees around 7% upside in the company’s stock.
• Recent News: AMC Entertainment reported first-quarter FY23 revenue growth of 21.5% year-on-year to $954.4 million, beating the consensus of $941.9 million.

Analyst: Tom Roderick

• Analyst Firm: Stifel
• Ratings Accuracy: 85%
• Latest Rating: Maintained a Buy rating on SPS Commerce, Inc. SPSC and raised the price target from $165 to $200 on July 7, 2023. This analyst sees around 10% upside in the stock.
• Recent News: SPS Commerce named Chad Collins as its new CEO, effective Oct. 2, 2023.

Analyst: Justin Post

• Analyst Firm: B of A Securities
• Ratings Accuracy: 83%
• Latest Rating: Reiterated a Buy rating on Alphabet Inc. GOOGL with a price target of $128 on July 5, 2023. This analyst sees around 7% upside in the stock.
• Recent News: Alphabet’s Google has reportedly pushed back the launch of its first fully-custom designed Tensor chipset to 2025.

Analyst: Jay McCanless

• Analyst Firm: Wedbush
• Ratings Accuracy: 83%
• Latest Rating: Maintained an Outperform rating on Meritage Homes Corporation MTH and raised the price target from $137 to $141 on July 7, 2023. McCanless sees the stock surging over 6%.
• Recent News: Meritage Homes posted better-than-expected first-quarter results.

Analyst: John Freeman

• Analyst Firm: Raymond James
• Ratings Accuracy: 82%
• Latest Rating: Maintained a Strong Buy rating on Kimbell Royalty Partners, LP KRP and cut the price target from $21 to $20 on July 7, 2023. This analyst sees around 37% surge in the stock.
• Recent News: Kimbell Royalty Partners posted upbeat first-quarter results.

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