U.S. stocks closed higher on Friday, with the S&P 500 settling at an all-time high during the session. All three major indices are now in positive zone for 2024.
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: Chris Caso
- Analyst Firm: Wolfe Research
- Ratings Accuracy: 86%
- Latest Rating: Upgraded rating on Microchip Technology Incorporated MCHP from Peer Perform to Outperform with a price target of $105 on Jan. 18, 2024. This analyst sees around 17% increase in the stock.
- Recent News: Microchip Technology said it sees preliminary third-quarter revenue down roughly 22% sequentially compared to its prior guidance of down 15% to 20%.
Analyst: Patrick Brown
- Analyst Firm: Raymond James
- Ratings Accuracy: 86%
- Latest Rating: Maintained an Outperform rating on CSX Corporation CSX and raised the price target from $35 to $38 on Jan. 16, 2024. This analyst sees around 86% upside in the stock.
- Recent News: CSX, during October, reported third-quarter earnings of 42 cents per share, which met the analyst consensus estimate, a 19.23% decrease over 52 cents per share from last year.
Analyst: Frank Schiraldi
- Analyst Firm: Piper Sandler
- Ratings Accuracy: 84%
- Latest Rating: Maintained an Overweight rating on M&T Bank Corporation MTB and cut the price target from $156 to $152 on Jan. 19, 2024. This analyst sees around 9% upside in the stock.
- Recent News: M&T Bank posted weaker-than-expected earnings for its fourth quarter.
Analyst: Matt Bryson
- Analyst Firm: Wedbush
- Ratings Accuracy: 84%
- Latest Rating: Reiterated a Neutral rating on Super Micro Computer, Inc. SMCI with a price target of $250 on Jan. 19, 2024. This analyst sees around 42% plunge in the stock.
- Recent News: Super Micro Computer said it expects to exceed its prior second-quarter financial guidance.
Analyst: Brian Mullan
- Analyst Firm: Piper Sandler
- Ratings Accuracy: 84%
- Latest Rating: Maintained a Neutral rating on Starbucks Corporation SBUX and cut the price target from $107 to $100 on Jan. 19, 2024. This analyst sees over 6% upside in the stock.
- Recent News: Starbucks plans to operate 1,000 stores in India by 2028, or one new store opening every three days, doubling employment.
Read More: How To Earn $500 A Month From AT&T Stock Ahead Of Q4 Print
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