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These were the biggest winners in the stock market this week, including one bank with 50% more upside

Chaim Potok by Chaim Potok
April 21, 2023
in Investing
These were the biggest winners in the stock market this week, including one bank with 50% more upside
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The three major indexes are on their way toward weekly losses, but handful of stocks have managed to stand out in an otherwise downcast week. CNBC Pro used FactSet data to scan the stock market to find the biggest winners of the week — and then looked to find out where Wall Street thinks these stocks are headed in coming months. Our screen of large-cap, mid-cap and small-cap stocks in the S & P 1500 resulted in a variety of winners, including a logistics company and a promising medical device play. One name that stuck out on the list was once-troubled regional bank PacWest Bancorp , which jumped almost 12% this week as of Friday morning. Wall Street believes shares have 55% upside, according to the consensus 12-month price target set by analysts. PacWest shares had a strong week after regional banking peer Western Alliance Bancorp posted quarterly adjusted earnings, according to FactSet. The results boosted sentiment surrounding regional bank shares. Investors were further buoyed by Western Alliance’s announcement that its deposits have been recovering in April after falling 11% in the first quarter. PacWest is set to report its earnings next week. Half of the analysts covering the stock rate it a buy. LivaNova ‘s shares rallied almost 17% this week after the medical devices company announced leadership changes . LivaNova also released preannounced revenue for the first quarter of $263 million, which implies 9% growth from the prior year. To be sure, LivaNova’s stock has declined more than 10% in 2023. Meanwhile, analysts estimate shares having almost 42% upside, according to FactSet. BJ’s Restaurants ‘ stock rose 9.2% this week after Wedbush Securities upgraded shares to outperform from neutral. Wedbush has a price target of $36 a share, representing upside of 23% from Thursday’s close. The firm cited menu price increases and increased staffing levels as drivers to same-store sales growth. Consensus estimates call for about 13% upside. Shares of BJ’s Restaurants are up 19% in 2023. —CNBC’s Michael Bloom contributed to this report.



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