According to top-rated Wall Street analysts, Meta Platforms, Amazon and Blue Bird represent compelling stock buying opportunities at the moment. These companies all received fresh “buy” ratings on September 29 from highly ranked equity research analysts who see significant upside potential.
Investors looking for attractive stocks to purchase may want to consider these analyst top picks. However, it is always prudent to thoroughly research any investment before committing capital.
Meta Platforms Rated a Strong Buy
Leading tech analyst Rob Sanderson of Loop Capital Markets was among six top analysts to reiterate a “buy” rating on Meta Platforms (NASDAQ: META) yesterday. Meta operates popular social media platforms Facebook and Instagram as well as virtual reality brand Oculus.
Over the last three months, 97% of leading analysts covering the stock, or 33 out of 34, have urged investors to buy Meta shares. Their consensus 12-month price target implies the stock could surge nearly 25% from current levels around $300.
Meta has faced various headwinds this year, including declining advertising revenue and competition from TikTok. But analysts remain bullish on Meta’s opportunities in areas like artificial intelligence, the metaverse, messaging, and video. With over 3.6 billion monthly users across its apps, Meta retains a massive engrained audience.
The company is also cutting costs by slowing hiring and trimming expenses. Once economic conditions improve, analysts expect Meta’s ad sales to rebound. The stock trades at an attractive valuation of just 14 times forward earnings estimates. So analysts see an appealing entry point at current prices into a leading technology franchise.
Amazon Called a Buy with 40% Upside
Prominent analyst Tom Forte of D.A. Davidson reiterated a “buy” recommendation on e-commerce and cloud titan Amazon (NASDAQ: AMZN) on September 29. Forte set a robust price target of $150, which implies potential gains of 40% from the stock’s current price near $105.
Impressively, all 33 top analysts covering the stock recently rated Amazon shares a “buy.” The consensus 12-month price target stands at $143, pointing to projected upside of around 37%.
Amazon has lost one-third of its value year-to-date amid a weakening economy. Consumers have cut back on discretionary purchases, hurting Amazon’s online retail revenues. But the company remains dominant in US e-commerce with about 40% market share. Amazon Web Services also leads the cloud infrastructure industry with 33% share.
Analysts remain bullish on Amazon’s long-term growth trajectory as more shopping and computing shifts online. Amazon boasts over 200 million Prime loyalty program members globally. The company is also expanding into new industries like healthcare and self-driving vehicles. With strong free cash flow and only 60% of revenue tied to e-commerce, analysts see Amazon stock as attractively priced for long-term investors.
Blue Bird Called an Overlooked Opportunity
Analyst Eric Stine of Craig-Hallum resumed coverage of school bus manufacturer Blue Bird Corporation (NASDAQ: BLBD) with a “buy” rating on September 29. His price target of $25 implies around 22% upside for the stock.
Blue Bird designs and produces buses for the education, commercial and transit markets. All three top analysts covering the small-cap stock currently rate it a “buy.”
The company faces some near-term semiconductor supply headwinds. But analysts see strong demand tailwinds as more schools upgrade fleets post-pandemic. Blue Bird also launched the industry’s first electric school bus in 2019.
Analysts estimate over 25% of the school bus market will transition to electric vehicles within 10 years. That presents a major growth avenue for Blue Bird. The company also acquired Canadian bus maker Lion Electric Co earlier this year to boost its zero-emission vehicle capabilities.
Blue Bird shares trade below 11 times forward earnings estimates. So analysts see an attractive opportunity in an under-the-radar transportation electrification play.
The bottom line: Top analysts view Meta Platforms, Amazon and Blue Bird as compelling stocks to buy now based on their strong market positions and upside potential. However, always conduct thorough due diligence before investing.