Zacks.com highlights include Synopsys Energy (Enphase Energy), Enphase Energy, ONEOK, and Fabrinet.
Instant Release
Chicago, IL – December 23, 2022 – Stocks in this week’s article are The Chefs’ Warehouse, Inc. CHEF, Synopsys, Inc. SNPS, Enphase Energy, Inc. ENPH, ONEOK, Inc. OKE, and Fabrinet FN.
Purchase 5 Stocks with upgraded Broker Ratings for New Year
The turbulent 2022 is over and investors need to evaluate their investment strategy for the new year. Recent economic data points to the effectiveness Federal Reserve’s aggressive monetary tightening. However, we are not yet out of the woods. The central bank will likely keep interest rates high until inflation drops reasonably.
This has caused investors to be cautious as higher rates could cause a recession or economic slowdown in 2023. Investors face a lot of market volatility due to bearish sentiments. This makes it difficult to select stocks individually and still earn solid returns. Following rating upgrades by brokers is one way to select the right stocks at this point. Stocks like The Chefs’ Warehouse Inc., Synopsys, Inc., Enphase Energy, Inc., ONEOK, Inc. And Fabrinet These are well worth a look.
Because brokers communicate directly with the top management of a company, they are better able to understand what’s happening there. They review all documents that are publicly available and participate in conference calls.
Brokers are more knowledgeable about the industry and sector in general. To determine the investment potential of a stock, brokers compare its company fundamentals with the current economic environment.
You can therefore rely on brokers’ judgment when they upgrade a stock. It is not a good idea to rely on the broker for your investment portfolio. To ensure steady returns, there are many other factors that must be considered.
These are five stocks that were selected for screening.
Ridgefield, CT-based The Chefs’ Warehouse Distribute specialty food products. CHEF’s product portfolio contains nearly 50,000 stock-keeping units. These include specialty food products like artisan charcuterie, specialty dairy products, unique oils and vinegars as well as truffles, caviar and chocolate.
The 2023 earnings of Chefs’ Warehouse are expected to rise 9.7%. Over the past four weeks, Zacks Rank #1 has seen a 16.7% increase in broker ratings.
Mountain View, CA-based Synopsys Electronic Design Automation Software is sold to the semiconductor and electronic industries. SNPS products are used in the design of a chip, from the initial concept to the delivery to the manufacturer for fabrication.
Expected earnings growth of 13.8% for the company in fiscal 2023. Synopsys currently has a Zacks Rank 2 and has seen a 8.3% increase in broker ratings over four weeks.
Fremont, CA headquarters Enphase Energy Global energy technology company, ENPH provides energy management technology for solar industry. ENPH is a global energy technology company that designs, manufactures, markets, and supports home energy solutions. These solutions connect energy generation, energy storage, control, communications management, and control on a single platform.
Enphase Energy’s 2023 earnings should rise by 25%. Over the past four weeks, Enphase Energy, which currently has a Zacks Rank 2, has seen a 4.4% increase in its broker ratings.
ONEOKTulsa-based energy company specializes in natural gas and natural gases liquids. OKE’s operations can be broken down into three reporting business segments: Natural Gas Gathering and Processing (NGP), Natural Gas Liquids (NGL) and Natural Gas Pipelines (NGP).
ONEOK’s 2023 earnings will increase by 13.9%. The company currently has a Zacks Rank 2 and has seen a 7.1% increase in broker ratings in the past four weeks.
Cayman Islands-based Fabrinet Provides optical packaging and precision electro-mechanical, electronic and optical manufacturing services. FN offers a variety of advanced optical and electronic manufacturing capabilities.
Expect 22% growth in earnings for the company in fiscal 2023. Fabrinet currently has a Zacks Rank 2 and has seen a 20% increase in its broker ratings over the last four weeks.
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The rest of the Screen of the Week article can be found at Zacks.com https://www.zacks.com/stock/news/2031307/buy-5-stocks-with-upgraded-broker-ratings-for-the-new-year
Disclosure: Zacks Investment Research officers and directors may be short-sellers or hold short positions in options mentioned in this material. An affiliate investment advisory firm could own short securities or hold short positions in options.
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ONEOK, Inc. (OKE) : Free Stock Analysis Report
Synopsys, Inc. (SNPS) : Free Stock Analysis Report
Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report
Fabrinet (FN) : Free Stock Analysis Report
The Chefs’ Warehouse, Inc. (CHEF) : Free Stock Analysis Report