Zacks.com featured highlights Philip Morris International, Kroger, Expedia Group, Lyft and Agilent Technologies
For Immediate Release
Chicago, IL – January 31, 2023 – Stocks in this week’s article are Philip Morris International Inc. PM, The Kroger Co. KR, Expedia Group, Inc. EXPE, Lyft, Inc. LYFT and Agilent Technologies, Inc. A.
5 Stocks with Upgraded Broker Ratings for Solid Returns in 2023
As the year 2022 ended on a grim note, it’s time for investors to re-assess their portfolio and investment strategy for 2023. While the recent economic data point to some effectiveness of the Federal Reserve’s ultra-aggressive monetary tightening, we are still not out of the woods. The central bank is expected to keep interest rates high till inflation comes down reasonably.
This has made investors cautious, as higher rates will likely lead to a recession/economic slowdown this year. The bearish sentiments are leading to huge market volatility, making it difficult for individual investors to pick stocks independently and generate solid returns. One way to choose the right stocks in the current situation is to follow rating upgrades by brokers. In this regard, stocks like Philip Morris International Inc., The Kroger Co., Expedia Group, Inc., Lyft, Inc. and Agilent Technologies, Inc. are worth a look.
As brokers directly communicate with the top management, they have a deeper understanding of what is happening in a particular company. They meticulously assess companies’ publicly available documents and even attend conference calls.
Brokers have an extra understanding of the overall sector and industry. They place company fundamentals against the current economic backdrop to determine how a particular stock will fare as an investment.
Hence, when brokers upgrade a stock, you can rely on their judgment. But solely depending on broker upgrades is not a good way to build your investment portfolio. Several other factors should be taken into consideration to ensure steady returns.
Here are five of the 31 stocks that qualified for the screening:
New York-based Philip Morris manufactures and sells cigarettes, other tobacco products and other nicotine-containing products outside the United States. PM is also engaged in the development and commercialization of reduced-risk products, which generally are less harmful than cigarette smoking.
Philip Morris’ 2023 earnings are projected to grow 1.9%. The company, carrying a Zacks Rank #2 at present, has witnessed an 18.2% upward revision in broker ratings over the past four weeks.
Cincinnati, OH-based Kroger operates supermarkets under banners including Kroger, City Market, Dillons, Food 4 Less, Fred Meyer, Fry's, Harris Teeter, Jay C, King Soopers, Mariano's, Pick 'n Save, QFC, Ralphs and Smith's. Further, KR manufactures and processes certain food products sold in its supermarkets.
The company’s earnings for fiscal 2024 are expected to increase 1.9%. Kroger, currently sporting a Zacks Rank #1, has witnessed a 6.3% upward revision in broker ratings over the past four weeks.
Headquartered in Seattle, WA, Expedia is one of the largest online travel companies in the world. EXPE’s web portals focus on travel planning, travel purchases and travel experience sharing, thus bringing suppliers and consumers of travel-related services together.
Expedia’s 2023 earnings are projected to rise 23.8%. The company, sporting a Zacks Rank #1 at present, has witnessed a 5% upward revision in broker ratings over the past four weeks.
Lyft, based in San Francisco, CA, operates multimodal transportation networks in the United States and Canada. LYFT is a peer-to-peer marketplace for on-demand ridesharing.
Lyft’s 2023 earnings are projected to surge 120.3%. The company, carrying a Zacks Rank #2 at present, has witnessed a 3.4% upward revision in broker ratings over the past four weeks.
Palo Alto, CA-based Agilent was originally a spin-off from Hewlett-Packard. The company is an original equipment manufacturer of a broad-based portfolio of test and measurement products serving multiple end markets.
A’s earnings for fiscal 2023 are expected to increase 8.1%. Agilent, currently carrying a Zacks Rank #2, has witnessed an 8.3% upward revision in broker ratings over the past four weeks.
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For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2046080/5-stocks-with-upgraded-broker-ratings-for-solid-returns-in-2023
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
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Philip Morris International Inc. (PM) : Free Stock Analysis Report
Agilent Technologies, Inc. (A) : Free Stock Analysis Report
The Kroger Co. (KR) : Free Stock Analysis Report
Expedia Group, Inc. (EXPE) : Free Stock Analysis Report
Lyft, Inc. (LYFT) : Free Stock Analysis Report
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