Good stocks to invest in now? 4 top stocks to buy according to analysts
Blue chip stocks are popular stocks of large, well-established and financially sound companies. They are called blue chips because they are considered one of the safest and most reliable investments in the market. stock Exchange. Blue chip stocks tend to be less volatile than other stocks, and they are often offer high dividend yields.
For these reasons, blue chips are often favored by conservative investors seeking stability and income. Although they do not offer the same growth potential as other stocks, best blue chip stocks are an excellent choice for risk-averse investors seeking stability and consistent returns. If you now want to search for blue chip stocks to buy [or avoid] now here are four to look into the stock market today.
Blue Chip Stocks to Buy [Or Avoid] Today
1. Auto Zone (AZO)
The first standing AutoZone Inc. (AZO) is one of the largest retailers and distributors of automotive aftermarket parts and accessories in the United States. Specifically, the company sells items such as automotive replacement parts, chemicals, tools, equipment and accessories through its AutoZone and AutoZone Online stores. To date, AutoZone operates over 6,100 outlets in the United States.
AutoZone (AZO) Recent Stock News
On Monday this week, AutoZone announced a beat for its fourth quarter 2022 financial results. In the report, AutoZone announced fourth quarter 2022 earnings per share of $40.41 per share, with revenue of 5 ,3 billions. That was better than analysts’ estimate for the quarter, which was earnings of $38.38 per share and revenue of $5.2 billion. Additionally, the company posted an 8.9% increase in revenue over the same period in 2021.
Bill Rhodes, Chairman, President and CEO, stated in his letter to shareholders:Our results are a testament to our AutoZoners’ ongoing commitment to providing exceptional customer service every day. Our retail operations performed well this quarter, which ended with positive same-store sales on top of last year’s strong performance. And our business growth continued to be exceptionally strong at 22%. The investments we have made in both inventory availability and technology improve our competitive position. We are optimistic about our growth prospects as we approach our new fiscal year.”
Apart from that, today brokerages like Citigroup (NYSE:C), and Jeffries Financial Group (NYSE: JEF) raised their price targets on AutoZone shares. In detail, Citigroup raised its price target on AZO stock from $2,250 per share to $2,520 per share. Meanwhile, Jeffries also raised its price target from $2,350 to $2,450 per share.
AutoZone (AZO) Stock Chart
By mid-morning on Tuesday, AZO shares rose more than 1% to $2,120.12 per share. Given its strong neighborhood and street reaction, do you think now is a good time to add AutoZone to your watch list?
[Read More] 3 hydrogen stocks to watch in September 2022
2. Apple (AAPL)
Then we have the consumer tech giant Apple Inc. (AAPL). This business needs little to no introduction for the most part, but if you’re unfamiliar, here’s a quick primer. Apple is an American multinational technology company. The company designs, develops and sells consumer electronics products, software and online services. Specifically, some of the most popular products from Apple are items like the iPhone smartphone, iPad tablet, Mac personal computer, Apple Watch smartwatch, and many more.
Apple (AAPL) Recent Stock Market News
Earlier this month, Apple announced its new product line to investors. Specifically, the company announced that it will be rolling out a new iPhone® 14 Pro and iPhone 14 Pro Max. In detail, this new iPhone will include additional features such as an Always-On display and the first-ever 48MP camera on an iPhone, among others. In addition to this, Apple also announced the launch of the new Apple Watch® Series 8 and the new Apple Watch SE®.
Additionally, Greg Joswiak, Apple’s senior vice president of worldwide marketing, said:Our customers rely on their iPhones every day, and with iPhone 14 Pro and iPhone 14 Pro Max, we’re delivering more advancements than any other iPhone. iPhone 14 Pro introduces a camera system that empowers every user – from casual to professional – to take their best photos and videos, and innovative new technologies like Always-On Display and Dynamic Island, which offers new interactions for Notifications and Activities.“
Carry on, just on Tuesday Evercore ISI (NYSE: EVR) reported an outperformance rating on Apple. Additionally, the brokerage raised its price target on AAPL stock from $185 per share to $190 per share.
Apple Stock Chart (AAPL)
Meanwhile, Apple shares year-to-date were down about 13.79% in Tuesday’s midday session at $156.77 per share. Given Apple’s track record and new product lineup, is now a good time to add Apple stocks to your long-term portfolio?
3. Norwegian Cruise Line Holdings (NCLH)
After that, let’s move on to the cruise line Norwegian Cruise Line Holdings (NCLH). In short, Norwegian Cruise Line is the third largest cruise line by berths in the world. For an idea of scale, the company has over 62,000 berths and operates 29 vessels. Additionally, Norwegian Cruise Line operates under three brands, which are Norwegian, Oceania and Regent Seven Seas. In May 2022, the company announced that it had redeployed its entire fleet. The company has redeployed its entire fleet from May 2022.
Norwegian Cruise Line Holdings (NCLH) Recent Stock Market News
Last month, the company announced its second quarter 2022 financial results. In detail, the company announced a loss of $1.22 per share in the second quarter, with revenue of $1.2 billion. . Meanwhile, analyst estimates for the second quarter of 2022 were a loss of $0.87 per share and revenue of $1.3 billion. Additionally, the company closed Q2 with $1.9 billion in cash equivalents. This means a significant improvement from pre-pandemic levels. In fact, NCLH reported a 27,079.1% year-over-year increase in revenue.
Frank Del Rio, President and CEO of Norwegian Cruise Line Holdings, had this to say about the quarter: “WWe are encouraged by the continued strong consumer demand we are experiencing, which is reflected in our record prices, accelerating booking volumes, particularly for 2023 and beyond, and the highest onboard revenue generation ever. recorded. Having emerged from the pandemic and resumed more normal operations, we remain true to our strategy and commitment to protecting our brand positioning and leading pricing, which we believe is the best way to maximize value. long term for all our stakeholders. .”
On Tuesday, the company received an upgrade from the wait to buy from Financial truist (New York Stock Exchange: TFC). The brokerage raised its price target on NCLH shares from $18 to $19 per share, representing an upside of 23.94%.
Norwegian Cruise Line Holdings (NCLH) Stock Chart
Since the start of 2022, NCLH stock has fallen more than 30% to $15.45 per share in the Tuesday afternoon trading session. However, in the last month of trading action, shares of Norwegian Cruise Line rallied approximately 23.11%. Overall, do you think the time is right to invest in Norwegian Cruise Line Holdings?
4. Human (HUM)
Last but not least, Humana inc. (HUM) is one of the largest health insurance companies in the world. In detail, the company offers a variety of health plans, including individual and family plans, as well as Medicare and Medicaid plans. Humana also provides a wide range of other services, such as drug benefit management, dental coverage, and vision care. For an idea of scale, Humana currently has over 20 million customers in the United States.
Humana (HUM) Recent Stock Market News
Last week, on Thursday, Humana announced a mid-term adjusted earnings per share target of $37 in 2025. Meanwhile, the company also raised its full-year 2022 EPS outlook to around $25 per share during of its last Investor Day. This would represent a compound annual growth rate of 14% above Humana’s updated EPS guidance for 2022.
Additionally, Bruce D. Broussard, President and CEO of Humana, said this in his statement to shareholders: “We are confident in our ability to generate attractive and sustainable earnings growth, both short and long term, which will continue to drive shareholder value. Our strong competitive positioning and unique capabilities in the highly attractive Medicare Advantage market, coupled with the ability to further expand and integrate our CenterWell healthcare services capabilities, positions us for enduring leadership in the healthcare industry. value-based care.”
Tuesday, Morgan Stanley (NYSE: MS) upgraded HUM stock from equal weight to overweight. They also raised their price target from $494 per share to $549 per share.
Humana (HUM) Stock Chart
So far in 2022, Humana has outperformed the broader market, with shares up more than 8% year-to-date. In Tuesday’s early afternoon trading session, HUM stock is trading up another 1% to $506.07 per share. With this update, will you add the Humana stock to your list of stocks to watch today?
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