9 Best Stocks According to Bank of America Analysts
Bank of America analysts have identified 9 stocks which, in their opinion, have the best chances of exceeding earnings expectations. In the first half of the year, the S&P 500 index outperformed expected earnings per share by 5%. Over half of the companies (56%) exceeded forecasts for both sales volume and earnings per share. This significantly exceeds the average historical growth of 40%. However, Wall Street experts predict a negative outlook for the second half of the year, with an expected 8% decrease in earnings per share for the S&P 500 to $52.88 compared to the previous year. Despite this, it is expected that 7 out of 11 sectors of the S&P 500 will exceed earnings forecasts, particularly the industrial and real estate sectors. Meanwhile, the services, communication, and financial sectors are likely to remain under negative pressure.
9 best stocks according to Bank of America analysts for the second half of 2023
These stocks will exceed profit estimates:
|№||Company||Ticker||BofA EPS Estimate|
|1||Arch Capital Group||ACGL||1.4|
|9||West Pharmaceutical Services||WST||1.7|
- Arch Capital Group (ACGL): Arch Capital Group is a leading insurance company specializing in risk management solutions. As a top expert in property and liability insurance, ACGL offers innovative products and services to help clients protect their assets and ensure financial security.
- United Rentals (NYSE:URI): United Rentals is one of the largest equipment and services rental providers in the US market. The company offers a wide range of equipment necessary for various industries, including construction, manufacturing, oil and gas, and more. With its diverse equipment fleet and highly skilled professionals, United Rentals provides reliable and efficient solutions for its clients’ projects.
- Aflac (AFL): Aflac is a leading insurance company specializing in supplemental health and life insurance. The company offers a wide range of products that help protect clients from unexpected expenses related to medical and life events.
- Meta Platforms* (NASDAQ:META): Meta Platforms is one of the world’s leading technology companies, providing innovative solutions and services in the realm of social networking and communications. With a high BofA EPS valuation, Meta Platforms continues to set new standards in digital communication and offer unique opportunities for virtual world connection and interaction.
- Dover (DOV): Dover is a global industrial conglomerate specializing in the manufacturing of high-quality equipment and components for various industries, including energy, food industry, pharmaceuticals, and more. The company is known for its innovative solutions, high product quality, and commitment to continuous improvement.
- Corning (GLW): Corning is a global leader in the development and production of specialized glass and ceramic materials. The company provides innovative solutions for various industries, such as electronics, automotive industry, optics, and more.
- SolarEdge (SEDG): SolarEdge is a leading company in innovative solutions for solar energy. The company offers high-efficiency inverters, power optimizers, and other products that improve the performance of solar panels and maximize the utilization of solar energy.
- VICI Properties (VICI): VICI Properties is a leading real estate company specializing in investments in high-quality commercial properties. The company owns and operates a diverse portfolio of assets, including casinos, hotels, retail properties, and more.
- West Pharmaceutical Services (WST): West Pharmaceutical Services is a global leader in the development and production of innovative packaging and components for the pharmaceutical and biotechnology industries. The company offers a wide range of products that ensure the safety and efficiency of medical treatments.