5 Stocks Ronnie Moas Just Upgraded -- And A Way To Play The Falling Market
- Ronnie Moas, founder and director of research at Standpoint Research, upgraded five stocks on Friday.
Moas decided to reinstate five names on Friday, as the S&P 500 index re-tested its August low and the Down Jones was off by 2500 points. All of these names were already in the expert’s “shopping list,” but have now come down to valuations where he feels comfortable stepping in.
Buy Ratings And Adjusted Price Targets
The lucky five names upgraded were Juniper Networks, Inc. (NYSE: JNPR), Nuance Communications Inc. (NASDAQ: NUAN), Bed Bath & Beyond Inc. (NASDAQ: BBBY), First Solar, Inc. (NASDAQ: FSLR) and Vera Bradley, Inc. (NASDAQ: VRA).
“Each of these names have corrected sharply and/or underperformed significantly since my exit and can be reinstated,” Moas explained.
All five stocks are undervalued, compared to the S&P 500, and are now trading at attractive multiples and/or with attractive cash positions, according to Moas.
The analyst upgraded all five names from Hold to Buy. The new price targets are as follows:
- Vera Bradley: $18
- First Solar: $76
- Bed Bath & Beyond: $55
- Nuance: $22
- Juniper: $32
A Way To Play
For those concerned about the market going lower, hedging with short SPDR S&P 500 ETF Trust (NYSE: SPY) and/or selling out-of-the-money put options on these names might be good ideas.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Image Credit: Public Domain
Latest Ratings for NUAN
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| May 2021 | Morgan Stanley | Downgrades | Overweight | Equal-Weight |
| May 2021 | SVB Leerink | Maintains | Outperform | |
| Apr 2021 | Craig-Hallum | Downgrades | Buy | Hold |
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