The stocks are spiraling down as the coronavirus is spreading worldwide. After the World Health Organization declared that outbreaks have grown into the pandemic, most futures fell rapidly. Major U.S. stocks, the Dow Jones, Nasdaq, and S&P 500 declined.
Nonetheless, Wall Street analysts think that some stocks are worth buying now, while their prices are low. Plexus Corporation and Trade Desk are among such futures. Both of them were dubbed as a strong-buy.
This company specializes in manufacturing and complex product design, as well as aftermarket services and supply chain. The stock declined by 26% year-to-date, but it doesn’t deter the analysts. According to them, the company could be nearing an inflection point, even though the situation seems dire.
Unlike other similar companies, PLXS focuses on complex, engineering-led, manufacturing services in industrials, healthcare, defense applications, and aerospace. Paul Coster, J.P. Morgan’s analyst, noted that the company’s valuation makes it worthy of investor attention.
Coster boosted his rating, setting his price target at $84. If the target is met, shareholders could gain 47% in the next year. And the $82.33 average price target has the upside potential to 44%.
Trade Desk Inc
The analysts claim that this stock is also a good choice if you want to invest wisely. Its shares have fallen 22% lower so far this year, but the experts think that the stock will rebound soon. Trade Desk offers a media-buying platform that helps users create engaging and inspiring content, serving the advertising industry.
Spending on the company’s platform surpassed the previous record during the quarter by $1 billion. Kyle Evans from Stephens stated that stock’s fourth-quarter earnings release is a key facet of a bullish thesis.
Evans bumped 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%.