The S&P 500 closed higher on Friday, closing the week with gains. For the week, the S&P added 1.01%, while the Dow climbed 0.66%.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst's opinion to trust.
Benzinga's Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.
Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the Analyst Stock Ratings page. One of the ways traders can sort through Benzinga's extensive database of analyst ratings is by analyst accuracy. Here's a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga Analyst Stock Ratings.
Analyst: Zachary Fadem
- Analyst Firm: Wells Fargo
- Ratings Accuracy: 87%
- Latest Rating: Maintained an Equal-Weight rating on McDonald's Corporation (NYSE:MCD) and increased the price target from $304 to $310 on July 28, 2023.
- Recent News: McDonald's Corporation reported second-quarter financial results that beat analyst estimates for earnings per share and revenue.
Analyst: Chris Caso
- Analyst Firm: Wolfe Research
- Ratings Accuracy: 86%
- Latest Rating: Maintained an Underperform rating on Intel Corporation (NASDAQ:INTC) and raised the price target from $27 to $31 on July 28, 2023.
- Recent News: Intel reported better-than-expected second-quarter results and issued strong guidance.
Analyst: Mark Levin
- Analyst Firm: Benchmark
- Ratings Accuracy: 86%
- Latest Rating: Maintained a Buy rating on Union Pacific Corporation (NYSE:UNP) and raised the price target from $230 to $264 on July 27, 2023.
- Recent News: Union Pacific reported a second-quarter FY23 operating revenue decline of 5% year-over-year to $5.96 billion, missing the consensus of $6.12 billion.
Analyst: Rick Patel
- Analyst Firm: Raymond James
- Ratings Accuracy: 85%
- Latest Rating: Maintained an Outperform rating on Skechers U.S.A., Inc. (NYSE:SKX) and raised the price target from $58 to $59 on July 28, 2023.
- Recent News: Skechers reported better-than-expected second-quarter results.
Analyst: Eric Wold
- Analyst Firm: B. Riley Securities
- Ratings Accuracy: 85%
- Latest Rating: Downgraded rating on MarineMax, Inc. (NYSE:HZO) from Buy to Neutral and cut the price target from $48 to $43 on July 28, 2023.
- Recent News: MarineMax posted better-than-expected quarterly results.
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