Stocks To Buy In June: The S&P 500 continued its disappointing start until 2022. In June, investors were concerned about the impact of Russia’s invasion of Ukraine, the aggressive Federal Reserve raising interest rates, the continuing rise in US inflation, and the broader investor rotation from growth stocks.
Despite market volatility from year to year, analysts are largely optimistic about the 2022 U.S. economic outlook. Analysts say early-year stock market volatility and a volatile macroeconomic environment have created a few new investment opportunities.
According to CFRA, an independent research firm, here are nine recently upgraded stocks to buy.
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9 Upgraded Stocks to Buy in June
9 Upgraded Stocks to Buy in June
Stocks To Buy In June: Below are the 9 upgraded stocks to buy in June:
Copart Inc. (ticker: CPRT)
Stocks To Buy In June: Copard operates an online vehicle auction and re-marketing site. Analyst Gareth Nelson has upgraded Copard twice since February and says he is optimistic about the stock’s risk-reward balance based on the company’s strong performance and stock rating.
According to Nelson, the stock is traded at valuation premiums to other auto retailers, but that premium is guaranteed based on its high-margin trading model, strong balance, and limited competition in the backup auction business.
Nelson expects 29% revenue growth for Copart in fiscal 2022 and 5% growth in 2023. CFRA has a “strong-buy” rating and a target price of $ 145 per CPRT share, ending on May 31 at $ 114.53.
Alexandria Real Estate Equities Inc. (ARE)
Stocks To Buy In June: Alexandria Real Estate Equities is an office real estate investment trust or REIT that specializes in properties that have a life sciences laboratory space. Analyst Kenneth Leon says stocks are improving and that the biosciences lab is more likely to withstand a recession than other types of property.
In addition, he says Alexandria’s start-ups are generally well-funded by venture capital investors and large global pharmaceutical companies.
Lyon expects 12% and 14% revenue growth for Alexandria in both 2022 and 2023, and the stock pays a dividend of 2.7%. CFRA has a “strong-buy” rating and a $ 210 price target for ARE stock, ending on May 31 at $ 165.95.
Take-Two Interactive Software Inc. (TTWO)
Stocks To Buy In June: Tag-to-Interactive Software is a leading video game developer and owner of owners such as Grand Theft Auto, Red Dead, and NBA2K. Analyst John Freeman promotes Tag-Doo, saying that this stock reveals attractive ratings, strong games, and secular development trends in gaming.
Freeman says Take-Two will benefit from expanding player engagement, raising global disposable income levels, increasing video game immersion, and emerging virtual reality technology.
Unfortunately, Freeman says, Take-Two faces its Zynga Inc. Raised the almost reverse winds associated with the acquisition. CFRA has a “buy” rating and a $ 171 price target for TTWO stock, closing at $ 124.53 on May 31.
Electronic Arts Inc. (EA)
Stocks To Buy In June: Electronic Arts is another great video game publisher and major owner of Madden, Apex Legends, and Battlefield Owner. Freeman improves EA and says the company’s fourth-quarter earnings report, which appears to be the latest slump in video game spending, was particularly impressive.
He says the combination of inflation and tight console distribution is contributing to the recession. According to Freeman, EA has shown particular strength in mobile gaming, and the company has historically been weak in this area.
CFRA has a “strong-buy” rating and a $ 184 price target for EA stock, up from $ 138.65 on May 31.
Paycom Software Inc. (PAYC)
Stocks To Buy In June:Paycom software provides human capital management solutions as a service. Analyst David Holt upgrades Paycom and says the stock’s recent reversal has led to a reversal in its valuation.
Holt says Paycom’s locally created database and high market expansion capability give the company structural advantages and keep it “jealous” following the epidemic.
He says Paycom should increase its payroll processing market share in the long run and that rising interest rates should increase customer finance interest income and gross profit. Holt expects 26% revenue growth in 2022.
CFRA has a “strong-buy” rating and a target price of $ 371 per share for PAYC, ending on May 31 at $ 284.34.
Tapestry Inc. (TPR)
Stocks To Buy In June: Tapestry designs and markets luxury accessories including handbags, perfumes, and footwear. Tapestry features the Coach, Kate Spade, and Stuart Whitesman brands.
Analyst Zachary Warring Tapestry says the company is finally returning to sustainable growth as it upgrades its strategy across multiple brands, expands its online sales business, reinvests its cash flow in digital marketing, and improves its pricing power. In addition, Tapestry has a plan to return to the occupied capital.
Warring expects a sharp resurgence in international travel over the next 12 months, providing a favorable environment for the tapestry. CFRA has a “strong-buy” rating and a $ 40 price target for TPR stock, up from $ 34.50 on May 31.
Dillard’s Inc. (DDS)
Stocks To Buy In June: Tillard and the other U.S. Shares of department store operators have been affected in recent weeks, but have improved due to Warring Tillard’s exposure in the U.S. Southeast region and its aggressive share repurchase program.
Waring says customers are moving away from the big department stores toward e-commerce but are still positive about Tillard.
However, in the current cycle, 2023 will be the peak year for Tillard’s earnings and earnings, and he says investors should be prepared for some sluggish growth numbers.
CFRA has a “buy” estimate and a $ 400 price target for DDS stock, up from $ 301.48 on May 31.
RingCentral Inc. (RNG)
Stocks To Buy In June: RingCentral provides software-as-service solutions for business communication. Analyst Keith Snyder upgraded the shares based on the company’s strong growth outlook and the significant 2022 decline in the stock.
The post-epidemic hybrid work environment is good news for RingCentral, he says, boosting sales momentum and reducing buzz. RingCentral expands its product portfolio, and AT&T Inc. Snyder says its partnership with companies such as (T), Vodafone Group PLC (VOD), and Alcatel-Lucent will add value to investors and boost future growth.
Snyder predicts annual revenue growth of nearly 26% in 2022 and more than 24% in 2023. CFRA has a “buy” rating for the RNG stock and a $ 125 price target of $ 63.14 as of May 31.
Arlo Technologies Inc. (ARLO)
Stocks To Buy In June: Arlo Technologies manufactures smart connected devices including security cameras, baby monitors, and outdoor lighting.
Analyst Kevin Young says he is positive about Arlow’s shift towards service earnings and that the shares are trading at an attractive rating. Young claims to have been boosted by Arlow, which reached $ 101 million in annual revenue in the first quarter while raising the average revenue per unit to $ 9.35 per month.
In addition, Arlow’s current customer acquisition cost is $ 0. Young projects have revenue growth of 15.5% in 2022 and 29% growth in 2023. CFRA has a “buy” rating and a $ 13 price target for ARLO stock, up from $ 7.08 on May 31.
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