Analysts say these stocks have the most upside from here — including one solar name expected to double

Posted By: EN Todayon: October 11, 2023In:

Wall Street is trying to shake off a myriad of headwinds, and analysts see certain stocks rallying from here. News of Hamas’ attack on Israel on Saturday added to investor concerns in a market already contending with the potential of higher-for-longer interest rates and persistent inflation. The latest producer price index report out Wednesday showed wholesale prices increased 0.5% in September. Economists polled by Dow Jones forecast 0.3%. Stocks have found support in declining Treasury yields, however, with the 10-year yield easing from 16-year highs seen recently. On Wednesday, the benchmark rate traded near 4.6%. Against this backdrop, we used the new CNBC Pro stock screener tool to search for stocks analysts think will outperform going forward. Here’s the criteria followed for the screen: S & P 500 member. Average consensus analyst rating of buy. Shares have the most upside, according to analyst consensus price targets. SolarEdge has the most upside of any S & P 500 stock, with analysts expecting the solar inverter maker to surge 121% over the next 12 months. The stock has struggled this year, losing more than 55%. Barclays last week downgraded SolarEdge to equal weight from overweight, noting there “is probably more bad news before we get good news.” JPMorgan said in September that the stock is attractive for the long term, as survey data shows growing interest in residential solar panels. “We believe the survey results signal that homeowner interest for adding residential solar systems is stronger than currently low investor sentiment and recent under performance of residential solar stocks indicates,” the bank said. SEDG YTD mountain SolarEdge stock. Warner Bros. Discovery also made the list, with the average analyst price target calling for more than 76% upside. Shares have climbed nearly 13% in 2023. The company had expected both the writers and actors strike to hammer earnings by as much as $500 million. However, the writers union has since reached a tentative labor agreement with studios. WBD YTD mountain Warner Bros. Discovery stock. Also on the list is vaccine maker Moderna , which average analyst consensus forecasts call for more than 73% upside from Tuesday’s $104.43 close. Shares have slipped nearly 42% from the start of the year. Despite reporting a second-quarter loss in August, the company remained upbeat that its Covid-19 vaccine would see higher demand and increased its full-year outlook for the jab. MRNA YTD mountain Moderna stock. — CNBC’s Michael Bloom contributed reporting.