Wall Street recommends stocks with good growth potential

Wall Street recommends stocks with good growth potential

The last several months were very turbulent amidst the coronavirus epidemy fears, Brexit, and the China-U.S. trade deal. The stock market experienced lots of ups and lows, with some futures skyrocketing, while the others plummeted down. However, Wall Street analysts continue to recommend those stocks, which have great growth potential. Here are three stocks which they advise as a good buy.

Selecta Biosciences

This stock skyrocketed by 107% during the last twelve months. Difei Yang, Mizuho Securities analyst, thinks that the company will increase further.

Selecta Biosciences created an ImmTOR immune tolerance platform with the hope of helping patients fight rare diseases. According to Yang, the “encouraging” interim data could get the company’s new therapy FDA’s approval.

The analyst boosted the price target from $4 to $7. With this new target, the shareholders could gain 66% over the next year.

Ocular Therapeutix

This biopharma company uses a hydrogel platform to develop innovative treatments for various eye diseases. So far, it has been quite successful. Analysts stated that the stock might grow by 57% over the year.

FDA approved its DEXTENZA insert for the treatment of pain and inflammation following ophthalmic surgery. And Yi Chen, H.C. Wainwright’s analyst, thinks that the company’s new project will also get approval from the FDA.

Yi Chen increased the company’s price target by $2 per share. The new target at $8 implies that stocks could surge 42% over the next year.

Lithia Motors

This stock increased by 46% last year. Lithia Motors is one of the largest car retailers in the U.S. After the company expanded its reach to include 92% of the U.S. In 2019, it became the broadest coast-to-coast car retail network.

The Craig-Hallum analyst, Ryan Sigdahl, thinks that this company is a strong buy, even though it experienced some drawbacks recently. The analyst reduced the price target from $200 to $170, but the investors could gain 31% over the next year if the target is met.

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