Benzinga - by Lisa Levin, Benzinga Editor.
U.S. stocks closed lower on Friday, ahead of the Federal Reserve’s policy meeting this week. The Dow, meanwhile, settled slightly higher last week, while the S&P 500 and Nasdaq both recorded losses for the second straight week.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst's opinion to trust.
Benzinga's Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.
Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the Analyst Stock Ratings page. One of the ways traders can sort through Benzinga's extensive database of analyst ratings is by analyst accuracy. Here's a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga Analyst Stock Ratings.
Analyst: Jonathan Raviv
- Analyst Firm: Wells Fargo
- Ratings Accuracy: 84.6%
- Latest Rating: Reinstated a Buy rating on L3Harris Technologies, Inc. (NYSE: LHX) with a price target of $193 on Sept. 11, 2023. This analyst sees around 10% upside in the stock.
- Recent News: L3Harris Technologies posted better-than-expected second-quarter results.
- Analyst Firm: Stifel
- Ratings Accuracy: 82.4%
- Latest Rating: Reiterated a Buy rating on CubeSmart (NYSE: CUBE) with a price target of $50 on Sept. 13, 2023. This analyst sees around 23% upside in the stock.
- Recent News: CubeSmart posted upbeat quarterly sales results.
- Analyst Firm: JP Morgan
- Ratings Accuracy: 80.5%
- Latest Rating: Maintained a Neutral rating The J. M. Smucker Company (NYSE: SJM) and lowered the price target from $153 to $137 on Sept. 12, 2023. This analyst sees around 9% upside in the stock.
- Recent News: J.M. Smucker announced it will acquire Hostess Brands.
- Analyst Firm: Mizuho
- Ratings Accuracy: 80.4%
- Latest Rating: Reiterated a Buy rating on Ashland Inc. (NYSE: ASH) with a price target of $114 on Sept. 13, 2023. This analyst sees around 39% upside in the stock.
- Recent News: Ashland posted weaker-than-expected third-quarter results.
- Analyst Firm: Keybanc
- Ratings Accuracy: 80.4%
- Latest Rating: Maintained an Overweight rating on ABM Industries Incorporated (NYSE: ABM) and lowered the price target from $51 to $48 on Sept. 11, 2023. This analyst sees around 18% upside in the stock.
- Recent News: ABM Industries reported weaker-than-expected earnings for its third quarter.
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