S&P 500's Hidden Gems: 27 Stocks With 30%+ Upside Potential According To Wall Street Analyst Targets
The S&P 500 Index has risen by 19% year-to-date, with three weeks remaining in the year and just a five percentage point gap from the all-time highs reached in January 2022.
Despite the impressive rally in the broader stock market, closely followed by the SPDR S&P 500 ETF Trust (NYSE:SPY), only 281 stocks comprising the index, or 56% of the total, have shown positive performance since the beginning of the year.
In other terms, 44% of S&P 500 companies took the path of retreat, a rare sight in a year when the stock market’s returns were nothing short of a feast.
Investors seeking so-called “laggards” — Goldman Sachs recently dedicated an analysis to this topic — are looking for the untapped potential hidden in S&P 500 stocks that have remained well outside the bullish eye of the market in 2023.
Hunting For Laggards In A Bullish Jungle: Top 10 S&P 500 Upside Picks
The stock that currently offers the highest upside potential compared to the median price targets set by Wall Street analysts is Moderna Inc. (NASDAQ:MRNA). Moderna is trading at $78 per share, while the one-year median price target is $127.50, representing a 58% potential upside.
Not far behind in terms of potential is First Solar Inc. (NYSE:FSLR), ranking second on this list with a 56% upside potential. Third, with a 52% upside, is Albemarle Corporation (NYSE:ALB).
Looking at the top 10, what stands out is the presence of three stocks related to hotels and casinos: Wynn Resort Ltd. (NYSE:WYNN), Las Vegas Sands Corp. (NYSE:LVS), and Caesars Entertainment Inc. (NYSE:CZR), with potential upsides of 48%, 45% and 43%, respectively.
Only three stocks in the top 10 have shown positive performance year-to-date, including Wynn Resort Ltd., Caesars Entertainment Inc., and Warner Bros Discovery Inc. (NASDAQ:WDB).
Name
Industry
Last Price
Median Price Target
Target %
Price Change % (YTD)
Moderna, Inc.
Biotechnology
78.83
127.50
58.19%
-56.44%
First Solar, Inc.
Semiconductors and Semiconductor Equipment
143.66
227.00
56.24%
-4.07%
Albemarle Corporation
Chemicals
122.37
180.00
52.16%
-43.56%
Aptiv PLC (NYSE:APTV)
Automobile Components
81.09
121.00
49.60%
-12.73%
Wynn Resorts, Limited
Hotels, Restaurants and Leisure
83.21
122.00
48.06%
1.13%
Incyte Corporation (NASDAQ:INCY)
Biotechnology
55.16
82.00
47.96%
-31.21%
Warner Bros. Discovery, Inc.
Entertainment
11.09
16.00
46.52%
16.56%
Las Vegas Sands Corp.
Hotels, Restaurants and Leisure
45.09
65.00
44.99%
-5.99%
Caesars Entertainment, Inc.
Hotels, Restaurants and Leisure
43.73
62.00
42.82%
4.76%
Bio-Rad Laboratories, Inc. (NYSE:BIO)
Life Sciences Tools and Services
309.62
441.00
42.03%
-26.23%
Look Who’s In 17th Place
Beyond the glittering top 10, there’s a basket of stocks offering compelling upside potential, ranging from 30% to 41%.
What truly raises eyebrows is the appearance of NVIDIA Corp. (NASDAQ:NVDA) in the 17th position.
With a jaw-dropping year-to-date performance of 215%, Nvidia has been the star of the S&P 500 in 2023.
Wall Street’s appetite for the chipmaker giant seems insatiable. Nvidia’s median price target set by analysts, with a one-year horizon in mind, stands at $630 per share. This projection implies a rally of 38.45% from its current trading price.
Diving into the mix, we find a significant presence of stocks hailing from the energy sector.
Names like APA Corp (NYSE:APA), Halliburton Company (NYSE:HAL), Schlumberger NV (NYSE:SLB), and Marathon Oil Corp. (NYSE:MRO) each flaunt an enticing 40% upside potential, while Baker Hughes Company (NYSE:BKR) screens a 31% upside potential.
Name
Industry
Last Price
Median Price Target
Target %
Price Change % (YTD)
APA Corporation
Oil, Gas and Consumable Fuels
34.12
48.00
41.05%
-26.71%
Halliburton Company
Energy Equipment and Services
34.80
49.00
40.56%
-11.56%
Schlumberger Limited
Energy Equipment and Services
48.90
69.00
40.44%
-8.55%
Marathon Oil Corporation
Oil, Gas and Consumable Fuels
23.76
33.00
40.19%
-12.19%
MGM Resorts International (NYSE:MGM)
Hotels, Restaurants and Leisure
40.12
55.00
39.70%
19.49%
United Airlines Holdings, Inc. (NASDAQ:UAL)
Passenger Airlines
41.92
57.00
39.26%
11.13%
NVIDIA Corporation
Semiconductors and Semiconductor Equipment
463.05
630.00
38.45%
215.83%
The Cigna Group (NYSE:CI)
Health Care Providers and Services
256.13
351.00
36.32%
-22.62%
LKQ Corporation (NASDAQ:LKQ)
Distributors
45.16
61.50
35.70%
-15.39%
Corteva, Inc. (NYSE:CTVA)
Chemicals
44.29
59.50
34.77%
-24.71%
Alaska Air Group, Inc. (NYSE:ALK)
Passenger Airlines
36.00
48.00
34.57%
-16.35%
BorgWarner Inc. (NYSE:BWA)
Automobile Components
32.95
44.00
34.43%
-17.96%
Align Technology, Inc. (NASDAQ:ALGN)
Health Care Equipment and Supplies
217.97
290.00
33.72%
3.58%
Live Nation Entertainment, Inc. (NYSE:LYV)
Entertainment
82.64
110.00
33.27%
18.32%
Biogen Inc. (NASDAQ:BIIB)
Biotechnology
237.89
311.00
32.98%
-14.37%
Baker Hughes Company
Energy Equipment and Services
31.97
41.75
31.04%
8.16%
Johnson Controls International plc (NYSE:JCI)
Building Products
55.22
72.00
30.81%
-13.75%
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