Nasdaq Sell-Off: 2 Stocks With 49% to 128% Upside, According to Select Wall Street Analysts
With the Nasdaq Composite (NASDAQINDEX: ^IXIC) down 9% year to date at this writing, some Wall Street analysts are seeing value among leading consumer brands. Shares of Chewy (NYSE: CHWY) and Peloton Interactive (NASDAQ: PTON) have fallen well off their highs the past few years.But analysts see 49% to 128% upside for these stocks based on expectations for improving financial results. Let's explore what is going right for these companies and whether you should bet your money on these analysts' opinions.Chewy is the leading online brand for pet supplies, but rising inflation pressured sales and the share price over the past few years. The stock has rebounded based on improving sales trends. Earlier this year, Evercore ISI analyst Mark Mahaney upgraded the shares to an outperform (buy) rating with a $47 price target, implying upside of 49% over the recent $31.50 share price. Should investors buy the stock now?Continue reading
With the Nasdaq Composite (NASDAQINDEX: ^IXIC) down 9% year to date at this writing, some Wall Street analysts are seeing value among leading consumer brands. Shares of Chewy (NYSE: CHWY) and Peloton Interactive (NASDAQ: PTON) have fallen well off their highs the past few years.
But analysts see 49% to 128% upside for these stocks based on expectations for improving financial results. Let's explore what is going right for these companies and whether you should bet your money on these analysts' opinions.
Chewy is the leading online brand for pet supplies, but rising inflation pressured sales and the share price over the past few years. The stock has rebounded based on improving sales trends. Earlier this year, Evercore ISI analyst Mark Mahaney upgraded the shares to an outperform (buy) rating with a $47 price target, implying upside of 49% over the recent $31.50 share price. Should investors buy the stock now?
