Amazon logo seen displayed on a smartphone.
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The S&P 500 is inches away from a record, boosted lately by stocks leveraged to a reopening economy like Boeing and banks. Wall Street analysts believe a new group of stocks will lead the way from here.
CNBC PRO screened for stocks in the S&P 500 with a “buy” rating from more than 75% of analysts covering the names at this point. From this pool, we selected the top 20 names ranked by potential upside to their average 12-month price targets among analysts.
Among the preferred names collectively now are several mega-cap technology equities, suggesting the recent sideways and downward moves of Big Tech shares in recent weeks make the stocks attractive at current prices.
Several FAANG stocks — the group of tech giant names referring to Facebook, Amazon, Apple, Netflix and Google-parent Alphabet — have struggled recently. Shares of Apple and Netflix are down 5% and 9%, respectively, in 2021.
But some investors might see the relatively weak performance of tech shares as a buying opportunity. Amazon, Microsoft, Facebook and Alphabet all make the list of Wall Street favorites with a potential increase in value.
At last check Tuesday, the S&P 500 was just 0.2% from a record. Here are some of Wall Street’s favorite stocks that analysts believe will lead the way from here: