As the S&P 500 soared to a new all-time high, achieving its strongest first-quarter performance in five years, excitement rippled through Wall Street. With the S&P 500 posting a remarkable 10.2% gain and the Dow Jones adding 5.6% for the quarter – its best start since 2021 – investors found themselves on a thrilling ride through the market terrain.
Amid this whirlwind of activity, Wall Street analysts were hard at work, delivering fresh stock suggestions every day. However, not all analysts boast a stellar track record when it comes to predicting market movements. This leaves investors grappling with conflicting opinions and bewildering price targets, unsure of which expert viewpoint to heed.
Benzinga’s Analyst Ratings API stands as a venerable library of top-tier stock ratings, meticulously curated by the Benzinga news team through direct collaborations with leading sell-side institutions. Recent revelations by investment dashboard provider Toggle.ai uncovered that the analyst insights routinely disseminated to Benzinga Pro subscribers and readers can effectively serve as indicators for trading, outperforming the stock market.
Cognizant Selections: Accessing the latest analyst ratings on Benzinga’s Analyst Stock Ratings page is a boon for any curious investor. One effective method for navigating Benzinga’s rich catalog of analyst opinions is by scrutinizing their accuracy. Let’s delve into the most recent stock recommendations from each of the five most precise Wall Street analysts, as identified by Benzinga’s Analyst Stock Ratings.
Forecaster: Leo Mariani
- Analysis Firm: Roth MKM
- Accuracy Rating: 89%
- Latest Insight: Upheld a Buy recommendation for Matador Resources Company MTDR and pushed the price target from $66 to $71 on March 28, 2024. This visionary anticipates a 6% uptick in the stock’s value.
- Recent Developments: On March 26, Matador Resources successfully priced its upsized offering of $900 million of senior notes maturing in 2032.
Forecaster: Keith Hughes
- Analysis Firm: Truist Securities
- Accuracy Rating: 88%
- Latest Insight: Maintained a Hold recommendation on Leggett & Platt, Incorporated LEG while reducing the price target from $18 to $16 on March 26, 2024. This analyst foresees a potential 16% decline in the stock’s value.
- Recent Developments: On February 8, Leggett & Platt reported underwhelming fourth-quarter financial results and issued a 2024 adjusted EPS and revenue guidance below estimates.
Forecaster: Zachary Fadem
- Analysis Firm: Wells Fargo
- Accuracy Rating: 88%
- Latest Insight: Upheld an Overweight recommendation for O’Reilly Automotive, Inc. ORLY and raised the price target from $1,200 to $1,300 on March 25, 2024. This analyst envisions a remarkable 15% growth potential in the stock.
- Recent Developments: On February 7, O’Reilly Automotive reported disappointing fourth-quarter sales figures and issued a 2024 EPS guidance below market estimates.
Forecaster: Philip Gibbs
- Analysis Firm: Keybanc
- Accuracy Rating: 86%
- Latest Insight: Sustained an Overweight rating for Worthington Steel, Inc. WS and lifted the price target from $31 to $39 on March 26, 2024. This analyst envisions a potential 9% surge in the stock’s value.
- Recent Developments: On March 21, Worthington Steel surpassed third-quarter financial expectations in its latest report.
Forecaster: Josh Siegler
- Analysis Firm: Cantor Fitzgerald
- Accuracy Rating: 86%
- Latest Insight: Affirmed an Overweight recommendation for TeraWulf Inc. WULF with a price target of $4 on March 28, 2024. This analyst foresees an impressive 56% growth potential in the stock.
- Recent Developments: On March 19, the company reported quarterly losses of 3 cents per share, missing the analyst consensus of 2 cents per share in losses.
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