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Oppenheimer analysts updated their top stock ideas for the current month, adding (FRPT), (SLNO) and removing (WMT) and (EW), among others.
These stocks are “most timely” according to Oppenheimer research analysts and are considered to outperform over the next 12 months, based on the company’s fundamentals in today’s market conditions.
This month, analysts added Freshpet ( FRPT ), Soleno Therapeutics ( SLNO ), TransMedics Group ( TMDX ), BizRocket.com ( OTC:BZRT ), Carrier Global ( CARR ), and Arcosa ( ACA ); and removed Walmart ( WMT ), Edwards Lifesciences ( EW ), UroGen Pharma ( URGN ), Builders FirstSource ( BLDR ), Clean Harbors ( CLH ), and Talen Energy ( TLN ).
These are the 32 picks and a comment from the analysts who picked it:
- Freshpet (FRPT) – “We take a very positive view [its] global growth prospects and see more sales drivers for the company.”
- CarMax (KMX) – “We are increasingly optimistic that digitally focused investments made by CarMax over the past few years have strengthened key operational and financial levers within the company’s business model…”
- Sweetgreen (SG) – “We believe fundamentals are improving with new SSS drivers, expanded restaurant margins and new market unit economics hitting hurdles.”
- Nasdaq (NDAQ) – “Recovery of IPOs and strength in equity markets can support IPOs and indexing of companies and help accelerate organic growth.”
- Crescent Capital BDC (CCAP) – The company “seeks to maximize total return to its shareholders by generating ongoing income and capital appreciation by investing in secured and unsecured debt and related equity securities.”
- Goldman Sachs Group (GS) – “The company has a strong franchise and there are multiple revenue, cost and capital optimization strategies that can be implemented.”
- Beazer Homes USA (BZH) – The company “is poised for growth, with closings expected to accelerate in FY25.”
- HCI Group (HCI) – “Shares will move toward fair value, which we believe is substantially above the current price.”
- Viking Therapeutics (VKTX) – “We see it [its] current market value as undervalued compared to its competitors…”
- Corbus Pharmaceuticals (CRBP) – “The company is well funded, with current liquidity supporting operations through key catalysts through 2026.”
- Avadel Pharmaceuticals (AVDL) – “With a strong record of execution leadership delivers, we see [Avadel] as undervalued at these levels.”
- Tyra Biosciences (TYRA) – “We believe that Tyra’s leading FGFR3 inhibitor can become a potential best-in-class treatment for FGFR3-mutant urothelial carcinoma and achondroplasia.”
- MoonLake Immunotherapeutics (MLTX) – “We view MLTX as among the most likely buyout targets in biotech today.”
- Soleno Therapeutics (SLNO) – “We believe shares remain undervalued.”
- Evolent Health (EVH) – The company “has an attractive growth proposition, driven by its ability to cross-sell new services, upsell its risk-based products to its large customers and add new evergreen contracts.”
- TransMedics (TMDX) – It manufactures the first multi-platform ex-vivo normothermic perfusion system for solid organ preservation and transport, which “represents a disruptive technology that could potentially revolutionize solid organ preservation and transport.”
- Alcon (ALC) – The company has new pipeline opportunities.
- XPO (XPO) – The company’s “valuation builds as it ultimately divests its European transportation business and develops its customer service-focused strategy, capabilities and the efficiency of its North American LTL business.”
- Enovix (ENVX) – “A pioneer in the commercialization of silicon anode technology with defensible IP in product architecture and manufacturing processes enabling new form factors, functionality and end markets for its customers.”
- Carrier Global (CARR) – The company has “demonstrated ability to deliver above average steps and improve FCF conversion.”
- International Flavors & Fragrances (IFF) – The company is “emerging from the industry downturn as a healthier company as it continues to execute on its strategy, productivity initiatives and balance sheet optimization.”
- The Timken Company (TKR) – The company has a “long-term strategic transition, with the team’s aggressive investments in renewable energy and automation.”
- Regal Rexnord (RRX) – The company’s “long-term earnings improvement initiatives… increasingly appear to enable extended momentum of stock raising and strategic mix management initiatives.”
- Arcosa (ACA) – It has “well-established positions in attractive markets with favorable long-term demand drivers that should provide it with compelling organic and acquisition opportunities.”
- CyberArk Software (CYBR) – It “has established itself as a leader in the privileged account management sector and has expanded into new growth areas.”
- AppLovin (APP) – The company’s “growing scale and expanded customer relationships continue to enhance its core product performance, which is likely to accelerate its market penetration and growth.”
- Clearwater Analytics (CWAN) – Analysts expect the company’s growth opportunity to “demonstrate medium-term sustainability due to the underlying value proposition of its SaaS offering, strong brand recognition and referenceability.”
- Wix.com (WIX) – “With the continued launch of new products, the company has evolved into a small to mid-sized business Cloud/SaaS platform.”
- Broadcom (AVGO) – The company “has one of the most strategically and economically attractive business models in semiconductors.”
- C3.ai (AI) – Its platform which can support ChatGPT is experiencing high demand.
- Maplebear (CART) – “We believe Instacart can further leverage its current position as a top-2 player in grocery delivery, and the company has significantly improved its order unit economics since 2019.”
- DraftKings (DKNG) – “The company [will be] a critical player in accelerating the shift in US sports betting from about $150B wagered illegally/offshore to licensed domestic operators.”