As the market continues its recovery from a steep sell-off in early August, some stocks are standing out as potential winners. The S & P 500, Dow Jones Industrial Average, and Nasdaq Composite have all bounced back from their losses, with the S & P 500 up roughly 2% in August. It is worth considering where these stocks could head next after such a volatile period.
Stocks to Watch
One stock that has caught the attention of analysts is pharmaceutical firm Eli Lilly. The company’s shares have seen significant gains in both 2024 and August alone, with a fresh 52-week high hit on Aug. 22. Analysts are bullish on the stock, with about 67% of analysts surveyed by FactSet giving it a buy rating. Another stock to keep an eye on is Walmart, which has seen a more than 45% climb in share price this year, with a record high reached on Tuesday. The retailer’s fiscal second-quarter results exceeded expectations, with strong consumer spending driving growth.
Potential for Continued Growth
Both Eli Lilly and Walmart have the potential for more upside ahead according to analysts. With buy ratings from a majority of analysts and average price targets indicating further growth, these stocks are worth watching. Other stocks that have rebounded sharply include insurance firm Progressive and retailer Ross Stores. Overall, the market’s resurgence post-sell-off presents opportunities for investors to capitalize on potential winners.
As the market continues to recover from the August sell-off, certain stocks are showing promising signs of continued growth. By analyzing key criteria such as 52-week highs, analyst ratings, and recent performance, investors can identify potential winners in the current market environment. Keeping a close eye on stocks like Eli Lilly and Walmart, as well as others that have rebounded sharply, could lead to profitable investment opportunities in the coming weeks.