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08 Feb, Wednesday
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Bull Trader USA

These global stocks surged last week, and analysts give them further upside

Last week was a good one for global stocks. The MSCI World index was up around 4% over the week, tracking Wall Street with major U.S. indexes on track to snap a two-month losing streak in October. Markets will be looking to the U.S. Federal Reserve meeting this week for signals that the central bank could pause its rate hikes in the near future. Among the MSCI World stocks, 23 had weekly gains of more than 15%, with seven surging more than 20%, as of the close on Oct. 28. Here are eight of the stocks which analysts say have significant upside ahead: In U.S. names, a few health care and pharmaceutical stocks made the list, including Moderna , Centene , and Teladoc Health. Teladoc spiked 23% last week, but only 15% of analysts covering the stock give it a buy rating. Analysts say the stock has 13% upside on average, according to FactSet. Moderna, on the other hand, has 40% upside on average, according to analysts covering the stock. Over 60% of analysts covering Centene give it a buy rating, and it has 18% average upside, according to FactSet data. It jumped 16% last week week. Japanese electronics firm Ibiden surged over 20% last week, and analysts give it 23% upside on average. More than 90% of analysts covering the stock give it a buy rating. Last week, the firm increased its earnings-per-share guidance for the current fiscal year, from 301 Japanese yen ($2.03) to 344 yen, according to FactSet. Shares of U.S. energy tech company Enphase Energy were up 21% last week , though analysts expect it to rise just 3% from here. The company beat profit and sales expectations when it reported third-quarter earnings last week, and earlier this month, Goldman Sachs reiterated Enphase as a buying opportunity, saying “continued robust demand” in the U.S. and Europe will help the stock outperform. Another global stock with big gains was Australian gold miner Evolution Mining , which jumped 15%. Analysts covering it give it an average upside of nearly 30%. Gold prices have mostly tumbled this year, but they jumped last week momentarily as the U.S. dollar fell. — CNBC’s Sarah Min contributed to this report.

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