Wall Street Analysts See Upside Potential for 10 Stocks with Rising Price Targets

Umar Farooq
11 min read

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In this article, we will discuss the 10 stocks whose price targets were recently raised by analysts. If you want to see more such stocks on the list, go directly to Wall Street Analysts See Upside Potential for 5 Stocks with Rising Price Targets.

On May 8, the S&P 500 faced resistance after a four-day winning streak, its longest run since March. The index stayed below the 5,200 level it had briefly reached earlier in the week, reflecting a loss of momentum in the stock market. The day's trading was characterized by fluctuations, with notable declines in major technology companies such as Nvidia and Tesla. These losses played a role in tempering Wall Street's enthusiasm for stocks. Uber Technologies also suffered a sharp drop after reporting disappointing first-quarter bookings, while Intel saw a decline due to a downgraded revenue outlook in light of a U.S. ban on chip exports to Huawei Technologies. At the same time, oil prices reversed earlier losses after a decline in U.S. stockpiles suggested a tightening market. West Texas Intermediate crude traded above $78 a barrel as the Energy Information Administration reported a reduction of 1.36 million barrels in inventories. This shift in the oil market is seen as a bullish indicator amid generally bearish technical trends. These factors reflect an inflection point in the market, as investors reassess their positions amid evolving economic conditions, corporate performance concerns, and changes in the oil market. Futures positioning has raised doubts about the strength of the S&P 500's recent gains, suggesting that some investors are more cautious about the sustainability of the rally.

On May 8, an official from the International Monetary Fund (IMF) expressed concern over the growing divisions between the United States and China, warning that their trade tensions could hinder global economic growth. The U.S. has heightened trade restrictions and sanctions on China, citing national security concerns and ongoing disputes in the South China Sea and around Taiwan, reported CNBC. IMF Deputy Managing Director Gita Gopinath noted that trade relations between the U.S.-led Western bloc and the China-aligned bloc have weakened since Russia's invasion of Ukraine. Trade between these blocs has decreased by roughly 12%, and foreign direct investment has fallen by 20% compared to levels within these groups. The IMF estimates that, in the most extreme scenario, these divisions could cost the world up to 7% of its GDP. The pandemic and geopolitical strife have disrupted international trade patterns not seen since the Cold War, according to Gopinath. Increasingly, countries are focusing on economic and national security when making trade and investment decisions. This trend threatens to undermine a rules-based global trading system and the benefits of economic integration. However, while the global economy faces significant challenges due to fragmentation, the overall trade-to-GDP ratio has been relatively stable over the past two decades. This stability is partly due to the role of neutral countries like Mexico and Vietnam, which act as connectors for rerouting trade and investment between the U.S. and China. These non-aligned nations leverage their economic and diplomatic influence to help keep the world economy integrated. The presence of these neutral mediators may serve as a buffer against the full impact of the ongoing U.S.-China tensions, providing a pathway for continued international cooperation and trade.

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