For Immediate Release
Chicago, IL – November 22, 2022 – Stocks in this week’s article are Conagra Brands, Inc. CAG, Medpace Holdings, Inc. MEDP, BP Plc BP, Avis Budget Group, Inc. CAR and Liberty Energy Inc. LBRT.
5 Stocks with Upgraded Broker Ratings to Fight Macro Challenges
While recent inflation data point to some effectiveness of the Federal Reserve's ultra-aggressive monetary tightening, we are still not out of the woods. The central bank is expected to keep raising interest rates until inflation comes down reasonably. Also, the Fed is trying to reassure the markets that it would slacken its stringent policy measures to avoid a hard landing, but investors are concerned that higher rates will lead to a recession in the next six-nine months.
The bearish investor sentiments are leading to huge market volatility, making it difficult for investors to select stocks independently and generate solid returns. At this stage, one way to choose the right stocks in the current situation is to follow rating upgrades by brokers. In this regard, stocks like Conagra Brands, Inc., Medpace Holdings, Inc., BP Plc, Avis Budget Group, Inc. and Liberty Energy Inc. are worth a look.
As brokers directly connect with the top management, they have a deeper insight into what is happening in a particular company. They diligently assess companies' publicly available documents and even attend conference calls.
Brokers have a more understanding of the overall sector and industry. They place company fundamentals against the current economic backdrop to determine how a particular stock will fare as an investment.
Hence, when brokers upgrade a stock, you can rely on their judgment. But solely depending on broker upgrades is not a good way to build your investment portfolio. Several other factors should be taken into consideration to ensure steady returns.
Here are five of 12 stocks that qualified for the screening:
Chicago-based Conagra Brands is one of the leading branded food companies in North America. CAG offers premium edible products with a refined focus on innovation.
Conagra Brands' fiscal 2023 earnings are projected to increase 3%. The company, carrying a Zacks Rank #2 at present, has witnessed a 10% upward revision in broker ratings over the past four weeks.
Cincinnati, OH-based Medpace Holdings provides clinical research-based drug and medical device development services in North America, Europe, and Asia. MEDP offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas.
The company's earnings for 2022 are expected to jump 44.9%. Medpace Holdings, currently sporting a Zacks Rank #1, has witnessed a 20% upward revision in broker ratings over the past four weeks.
Headquartered in London, BP is engaged in the energy business worldwide. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments.
BP's 2022 earnings are projected to surge 138.2%. The company, sporting a Zacks Rank #1 at present, has witnessed a 7.7% upward revision in broker ratings over the past four weeks.
Avis Budget Group, based in Parsippany, NJ, operates as a leading vehicle rental with an average rental fleet of nearly 650,000 vehicles. The company is a leading global provider of mobility solutions through its three most recognized brands — Avis, Budget and Zipcar.
Avis Budget Group's 2022 earnings are projected to jump 134.6%. The company, carrying a Zacks Rank #2 at present, has witnessed a 16.7% upward revision in broker ratings over the past four weeks.
Headquartered in Denver, CO, Liberty Energy is a premier provider of hydraulic fracturing and other auxiliary services to onshore exploration and production companies in North America. LBRT offers a wide spectrum of specialized, complementary services and equipment for the exploration and production of oil and natural gas.
Liberty Energy's 2022 earnings are projected to surge 298%. The company, carrying a Zacks Rank #2 at present, has witnessed a 7.7% upward revision in broker ratings over the past four weeks.
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For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2020248/5-stocks-with-upgraded-broker-ratings-to-fight-macro-challenges
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