The stock markets collapsed after the World health organization announced that coronavirus outbreaks have grown into pandemic on March 11. The majority of the futures plummeted down along with currencies and equities.
Dow futures fell by over 1,000 points, with S&P 500 and Nasdaq futures dipping as well. However, analysts think that now is a good time to buy some of the stocks until their prices skyrocket again.
The wall street recommends grabbing these two stocks during the dip:
Trade Desk Inc offers a media-buying platform that helps users create engaging and inspiring content, serving the advertising industry. Its shares have fallen 22% lower so far this year. However, analysts think that the stock will rebound soon.
Kyle Evans from Stephens noted that stock’s fourth-quarter earnings release is a key facet of such a bullish thesis. Spending on the company’s platform surpassed the previous record during the quarter by $1 billion.
Evans boosted the price target from $250 to $310, with the upside potential at 51%. However, according to analysts, if an average price target is $285, the potential twelve-month gain will come in below Evans’ forecast at 38%.
Plexus Corporation is a second strong buy stock. It specializes in manufacturing, complex product design, as well as aftermarket services and supply chain. The stock has lowered by 26% year-to-date. Even though the situation seems dire, the company could be nearing an inflection point.
J.P. Morgan’s analyst Paul Coster thinks that the company’s valuation makes it worthy of investor attention. According to the analyst, unlike other names inhabiting the space, PLXS focuses on complex, engineering-led, manufacturing services in industrials, healthcare, defense applications, and aerospace.
Coster bumped his rating, setting his price target at $84. If the target is met, shares could surge by 47% in the next year. And the $82.33 average price target has the upside potential to 44%.
