Many stocks trading for $5 or less per share, also known as “penny stocks,” often fly under the radar of Wall Street analysts. However, some of these penny stocks have caught the attention of analysts and received strong buy ratings.
Analysts from well-known investment banks as well as boutique research firms have identified some penny stocks with promising prospects. While it’s not always wise to blindly follow analyst recommendations, these ratings can provide valuable insights into potential investment opportunities.
One such penny stock is Advantage Solutions (ADV), which has received a bullish rating from analysts. Another penny stock to watch is Safe Bulkers (NYSE:SB), which recently received an upgrade from Jeffries. The dry bulk shipping company now has a buy rating and a $6 per share price target.
The upgrade was based on the company’s attractive valuation and aggressive share repurchase program. Analysts believe that the repurchase of up to 5 million shares could significantly boost Safe Bulkers’ stock price. As a result, the stock has been on the rise and is nearing the $5 per share mark.
Investors should always conduct their own research before making investment decisions. The opinions expressed in this article are those of the writer and do not necessarily reflect the views of InvestorPlace. Thomas Niel, a contributor for InvestorPlace, has been analyzing single stocks for web-based publications since 2016.
In conclusion, there are penny stocks with strong buy ratings that may present attractive investment opportunities. It’s important for investors to carefully evaluate these stocks and consider all factors before making any investment decisions.