Analysts say these will be the top 10 stocks of 2023

miss. The horrible year for the S&P 500 that was 2022 is over. Analysts have picked out their favorite spots for making money next year.




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Analysts believe that 10 stocks in the S&P 500, incl dish network (Dish), Tesla (TSLA) and Amazon.com (AMZN), you will earn 60% or more in the next twelve months. These are the stock analyst price targets that show the greatest money-making potential in 2023, according to Business Daily investor analysis of data from S&P Global Market Intelligence and MarketSmith.

The big question mark looming on the horizon is whether a recession will happen in 2023. Indicators are starting to point to yes.

CFRA strategist Sam Stovall said: “Like a shrunken lawn decoration on a holiday…the (Fed Chair Jerome Powell) press conference sapped investors’ hopes of averting a recession, and showed that history may yet again prove right in the earlier warning of an economic slowdown. Possible”.

This means that earning money may be difficult next year. But it is not impossible.

Looking for opportunities in the S&P 500

Analysts are going bearish on 2023 with each passing week. But they still claim some winners.

Hopes are higher for satellite communications company Dish Network. Analysts believe that the S&P 500 stock, which has breached 57% this year, will rise 134.7% next year. That’s based on analysts’ average 12-month price target of 32.43 per share, up from Monday’s close of 13.82.

Dish Network is a deep value game. It’s a member of the S&P 500 Pure Value Index, which owns only stocks that line up perfectly as a value stock. Investors only pay $4.79 to claim $1 profit in the past 12 months. This makes the stock very cheap compared to the S&P 500. Investors pay $20, or nearly four times as much, to claim a $1 dividend from S&P 500 companies.

But being a game of value comes with risks, too. Analysts believe that Dish Network’s adjusted earnings will drop approximately 31% this year and another 36% in 2023.

Will Musk and Bezos redeem themselves in 2023?

Of all the analyst requests for top stocks for 2023, Tesla and Amazon.com are among the most surprising. Both previously hot stocks have gone south fast in 2022.

But could next year be better for them? For Tesla, analysts think the stock will rise nearly 80% in the next 12 months. That would be a welcome rebound for a stock that’s down 58% this year. Tesla, too, has a lot of growth behind it. Analysts believe the company’s adjusted earnings per share will jump more than 80% this year on more than 50% higher revenue of $83.3 billion.

And it’s not just a lucky year. Analysts believe Tesla’s adjusted earnings will rise another 37% in 2023. It’s not easy to find S&P 500 companies that are expected to grow in a year that might be heading into a recession.

Analysts are almost equally bullish on Amazon.com stock. Yes, shares of the online retailer are down 49.2% this year to 84.61. But analysts believe that in 12 months’ time, they will be back to 141.68, or roughly 68% higher.

But in this case, analysts are counting on a year back in 2023 to follow a dismal 2022. Amazon is expected to return to a profit of $1.69 per share in 2023, after losing 9 cents per share in 2022.

What’s up for the S&P 500 in 2023?

It’s important to note, however, that analysts are rapidly lowering their forecasts for 2023. This means that projections are just educated guesses at this point.

Stovall said analysts are now calling for an “imminent recession in earnings.” For the earnings forecast for the current fourth quarter of 2022 through the second quarter of 2023, “S&P 500 EPS estimates are flat to the downside, while the Sept. 30, 2022 forecast showed gains for all three quarters.”

This is not a great trend to trade.

2023 is looking bright for these S&P 500 stocks

Analysts see most of the upside based on the 12-month price target

company Code YTD %ch. Implied uptrend section
DISH Network (Dish) -57.4% 134.7% Telecommunications Services
Discovery Warner Brothers (WBD) -61.2% 125.6% Telecommunications Services
Tesla (TSLA) -57.6% 79.6% Consumer Dictionary
Catal (CTLT) -65.9% 71.3% Health Care
Amazon.com (AMZN) -49.2% 67.5% Consumer Dictionary
Match set (MTCH) -69.7% 65.6% Telecommunications Services
Generac Holding (GNRC) -74.2% 65.5% industries
EQT (EQT) 65.5% 63.9% energy
global payments (GPN) -31.3% 62.4% Information Technology
signature bank (SBNY) -65.0% 60.6% Finance
Sources: S&P Global Market Intelligence, IBD

#Analysts #top #stocks

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