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These are the best-performing Dow stocks this summer. Where analysts see them going

Chaim Potok by Chaim Potok
August 23, 2023
in Investing
These are the best-performing Dow stocks this summer. Where analysts see them going
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The summer has been good for the Dow Jones Industrial Average . Since Memorial Day, the 30-stock benchmark is up more than 3%, as some tech and non-tech names gain traction. The question for many on Wall Street is where does the Dow go from here. To help answer it, CNBC Pro searched for the best-performing Dow stocks since May 29. We also looked at how well these names are liked by analysts — and how well they are expected to fare going forward. Intel made the list, rising more than 13% from Memorial Day through Tuesday’s close. The company in July reported second-quarter earnings that beat analyst expectations. It also issued better-than-expected guidance . To be sure, the stock is not well liked by analysts, with just 18% of those covering it sporting a buy rating. “INTC is missing much of the significant increase in cloud capex in 2H:23 and 2024 and we are not optimistic about its AI roadmap through 2025,” UBS wrote last month. The average analyst price target implies 12% upside, however. INTC 3M mountain Intel stock from May. Boeing also made the list, with shares climbing a similar 13% since Memorial Day. Last month, Boeing reported second-quarter results that exceeded analyst expectations. The company also said it delivered more than 136 planes during the period, up from 121 in the second quarter of 2022. More than half of analysts polled by FactSet have Boeing rated as a buy, and their average price targets imply roughly 13% upside for shares in the next 12 months. BA 3M mountain Boeing stock. In consumer staples, Home Depot has been on a tear despite headwinds stemming from a more cautious consumer as well as persisting inflation. The stock has added about 11% from Memorial Day through Tuesday. Meanwhile, about 49% of analysts polled by FactSet have the building supplies stock rated as a buy, with their average price targets forecasting 7.3% upside for the stock. HD YTD mountain Home Depot stock has added more than 3% from the start of the year. The best performer on the list is Caterpillar , which has added nearly 28% from the Memorial Day holiday through Tuesday. Roughly 41% of analysts polled by FactSet maintain a buy rating on the stock, and the average price target implies 6.6% upside. CAT 3M mountain Caterpillar stock is the best performer on the list with a nearly 28% gain.



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