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These stocks were the big winners this week and analysts see more good times ahead

Chaim Potok by Chaim Potok
October 11, 2024
in Investing
These stocks were the big winners this week and analysts see more good times ahead
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A handful of stocks stood out as the biggest winners on Wall Street this week, and analysts think they have more room to run. The major averages posted a fifth-straight winning week on Friday, with the S & P 500 notching a fresh record. Results from banking behemoths including JPMorgan Chase and Wells Fargo began the third-quarter earnings season in earnest and helped keep investor sentiment high. Wall Street also received some comforting inflation data on Friday. The producer price index, a reading of wholesale inflation, was flat in September. Economists polled by Dow Jones predicted a 0.1% increase on the month. To dig further into the winning week, CNBC Pro screened for stocks that stood out, abiding by the following criteria: Shares on the list have advanced more than 5% this week. Analyst forecasts call for at least 10% upside ahead. Stocks are members of the S & P 500. Here’s a look at the names that emerged from the CNBC Pro stock screener tool . Cruise operator Carnival had the strongest week of the names that made the list with a gain of more than 13%. Consensus price targets from analysts polled by LSEG imply 16% upside for shares moving forward. The stock also hit a fresh 52-week high on Friday. This outlook follows stronger-than-expected third-quarter results from Carnival, issued on Sept. 30. The company surpassed analyst estimates on the top and bottom lines. CCL 5D mountain Carnival stock. “The cruise industry has been severely impacted by the COVID-19 outbreak, but operations have now resumed and the lifting of pandemic restrictions should support demand recovery,” Bank of America analyst Andrew Didora wrote in an Oct. 1 note. Super Micro Computer also made the list, with shares of the information technology stock up nearly 16% on the week. Analysts polled by LSEG forecast upside of nearly 62%, per their consensus price targets. SMCI 5D mountain Super Micro Computer stock. While the company is behind schedule in disclosing its annual report, Super Micro said Monday that its shipping more than 100,000 graphics processing units per quarter. The comments supercharged its shares at the beginning of the week. They also helped underpin Super Micro’s outlook, which is closely tied to strong demand for artificial intelligence applications. Specifically, the robust appetite for these GPUs could equate to billions of dollars for the company. For example, the average price of a GPU from Nvidia costs about $30,000. Elsewhere, shares of semiconductor play Synopsys added roughly 8%. Consensus forecasts from analysts polled by LSEG forecast about 19% upside moving forward. SNPS YTD mountain Synopsys stock.



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