Stocks have been having a rough go of it lately, but if history is any indication, there could soon be some relief for investors. November has traditionally been a very strong month for the stock market. The S & P 500 and the Dow Jones Industrial Average have each added 1.7% in November on average, dating back to 1950, according to data from the “Stock Trader’s Almanac.” The Nasdaq Composite, on the other hand, has gained an average of nearly 2% in November since 1971. Heading into November, CNBC screened for Wall Street’s favorite stocks out of the S & P 500, or stocks that met the following criteria: Consensus 12-month price target calls for a 20% or more upside. Consensus analyst rating is buy. The stock has been positive over the past three months, indicating that it’s holding up well right now and has not collapsed in this latest market correction. The average analyst surveyed by LSEG, formerly known as Refinitiv, has a consensus potential upside of 23% on T-Mobile . Shares of the cellphone carrier are up 3.6% since the beginning of the year, recently rallying on the back of third-quarter earnings that came in above analysts’ expectations. Energy company Marathon Oil was also included in the list. The consensus price target for the stock implies a forecast upside of almost 24%. Shares of Marathon Oil have recovered from a bigger pullback earlier this spring and are now fairly flat in 2023. In October, Morgan Stanley named the stock as one of its favorite stock picks in a slowing, late-cycle economy. Other names beloved by Wall Street and highlighted in our screen include Targa Resources , Halliburton and Centene .
