Buy these 16 tech stocks that are beaten down from the pandemic and now primed for explosive growth in the months ahead, Stifel says
coming off of its all-time highs after three days of violent sell-offs, investors are faced with a reckoning over where to put their cash to work as they ride the market's next leg up. Even after the recent volatility, technology stocks have outperformed the S&P 500 year-to-date by almost 22 percentage points, noted Sameer Samana, a senior global market strategist at Wells Fargo Investment Institute, on a Wednesday media call.
For investors who still love technology but balk at the frothy valuations commanded by some of the big names, Stifel has asked its equity research analysts to unearth stocks impacted by the COVID-19 pandemic but poised to grow as the economy recovers. The 16 tech stocks, which are handpicked from the internet, media, and telecom and technology sectors, are considered either "undervalued" or "poised for growth" judging by the degree to which their valuations are reflected in current share prices, according to Stifel. "These are names that may also benefit from easy comps in 2021, and/or an acceleration in growth due to the potential unleashing of pent up demand over the next 6-12 months," Stifel said in a Tuesday research note. To arrive at their target prices for these stocks, the analysts used a discounted cash flow approach to estimate the value of the companies' future cash flows. They also accounted for macroeconomic risks and idiosyncratic risks that could impede the companies' growth trajectories.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European stocks lose nearly all of Monday’s rally after rough Wall Street restartEuropean stocks reversed ground after tech stocks sold off again on Wall Street.
Read more »
Dow plummets 632 points as tech-sector carnage spoils another day | Markets InsiderSpencer Platt/Getty Images US stocks sank on Tuesday as investors sold-off tech giants and bought safe-haven assets.The tech-heavy Nasdaq comp...
Read more »
Tesla stock rallies after plunging a record 21% during Tuesday's tech rout - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Business Insider's top advertising and media stories for September 10 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Zscaler blasts past 4th quarter expectations, predicts more growth - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
US stocks climb as investors weigh extended tech rally against weak jobless claims data - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »