As November trading kicks into high gear, Mizuho has some names for investors to snap up. The month is off to a strong start, with the Dow Jones Industrial Average up more than 3% and the S & P 500 up nearly 4%. The Nasdaq Composite has logged a 4.8% gain thus far. That marks a turn from October, which was a losing month for the three major indexes. Mizuho’s equity research team compiled its top buy-rated picks for the new month. The list includes new names Coterra Energy , Merck & Co. , EyePoint Pharmaceuticals and Intuit . Here are 10 of the stocks that made the firm’s list, including the four fresh additions: Mizuho is somewhat of an outlier on Coterra, which has an average rating on Wall Street of hold, per LSEG, formerly known as Refinitiv. The average price target for the stock, which is already up about 14% this year, implies an upside of about 15%. Still, analyst Nitin Kumar noted that the company is outpacing its oil outlook for 2023 and could see upside to its three-year outlook when the 2024 capital budget is released in February. “A peer-leading cash return framework offers investors cash returns via a dividend and buyback,” the analyst wrote. Merck has struggled this year, shedding nearly 7%. But the average analyst is bullish with a buy rating and price target implying an upside of almost 21%, per LSEG. Analyst Mara Goldstein said part of the reason to be excited on the stock stems from a pharmaceutical pipeline that extends beyond Keytruda, a cancer treatment. Products from the company in the cardiovascular, inflammation, metabolic and vaccine spaces could join Keytruda in boosting the business, she said. “The visibility on MRK’s ability to diversify its revenue base and dilute KEYTRUDA’s overall contribution has greatly improved over the past year,” she said. “While KEYTRUDA is still an active growth and cash flow driver for the company, it could be joined by candidates … that have the ability to lessen revenue pressure from potential patent expiry and pricing pressures on KEYTRUDA later in the decade.” Analyst Graig Suvannavejh said EyePoint’s focus on eye therapies that need to be administered less frequently is serving an unmet need. It has already been a good year, with shares up more than 120%. The average Wall Street analyst rates EyePoint a buy, and the consensus price target implies the stock could skyrocket nearly 290%, per LSEG. Analyst Siti Panigrahi said Intuit is a potential artificial-intelligence winner with its Assist platform. The analyst also said the company has de-risked its 2024 guidance and is generally defensive. “INTU has a defensible business model underpinned by its dominance in the Small Business and Consumer segments,” Panigrahi said. “Moreover, the company has a strong track record of delivering durable double-digit growth with multiple growth drivers, margin expansion, and, in turn, consistent shareholder returns.” The stock has outperformed this year, climbing about 28%. The average analyst has a buy rating and price target reflecting 13.5% upside ahead, per LSEG. — CNBC’s Michael Bloom contributed to this report.
