Analysts are busy analyzing the impact of macro challenges on companies during earnings season. While short-term stock moves are being closely watched on Wall Street, the top analysts are focusing on the long-term prospects of companies. According to TipRanks, a platform that ranks analysts based on their past performance, three stocks are favored by the Street’s top pros.
First on the list is Netflix (NFLX), which reported better-than-expected results for the first quarter of 2024. Despite disappointing investors by deciding to stop reporting quarterly subscriber numbers, the streaming giant added 9.3 million subscribers, exceeding expectations. BMO Capital analyst Brian Pitz reaffirmed a buy rating on NFLX stock, citing the company’s growth potential and content investments.
Next up is General Motors (GM), which announced impressive first-quarter results and raised its full-year guidance. Goldman Sachs analyst Mark Delaney remains bullish on the stock, citing improved margin expectations and progress in electric vehicle profitability. GM’s capital allocation strategy is also seen as a positive factor for the stock.
Lastly, Wingstop (WING), a restaurant chain with over 2,200 locations worldwide, is gaining attention from analysts. Baird analyst David Tarantino sees upside potential in the company’s long-term target for the U.S. market, with room for at least 5,000 U.S. locations. Tarantino believes WING deserves a significant valuation premium due to its strong operating momentum and attractive growth profile.
Overall, these three stocks are favored by top analysts for their growth potential and long-term prospects.