10 Stocks Receiving a Massive Vote of Approval From Wall Street Analysts

Published April 9, 2024 at 10:41 am EDT Updated September 7, 2026 at 12:52 pm EDT

In this article, we will take a look at the 10 stocks receiving a massive vote of approval from Wall Street analysts.

Bond yields surged to their highest levels of 2024 as investors kept a keen eye on inflation dynamics, setting the stage for a volatile week in global financial markets. Wall Street’s focus has shifted to Wednesday’s release of the consumer price index, which is expected to provide crucial insights into inflationary pressures. The optimism surrounding the economic outlook led traders to recalibrate their expectations for Federal Reserve policy. Initially anticipating three quarter-point rate cuts in 2024, markets now lean towards just two reductions, reflecting growing confidence in the resilience of the economy. However, SocGen’s Subadra Rajappa cautioned that further yield increases might prove challenging. The bond market’s ascent was also attributed to easing geopolitical tensions, which allowed investors to shift their attention towards domestic economic indicators. With 10-year Treasury yields reaching levels not seen since November, speculation mounts over whether rates could breach the psychologically significant 4.5% mark, potentially signaling a return to the highs witnessed last year. Despite the upward trajectory in bond yields, some investors remain cautious, anticipating potential headwinds ahead. SocGen’s Rajappa highlighted the complexities in sustaining yield gains from current levels, suggesting that the path forward might be more nuanced than anticipated. As markets navigate these uncertainties, attention remains squarely on inflation data and the Federal Reserve’s policy stance, with any surprises likely to fuel further volatility in bond markets and beyond.

Traders are recalibrating their expectations for Federal Reserve actions in response to evolving economic conditions, with a noticeable shift in sentiment towards a more conservative stance. Previously, market sentiment had leaned towards anticipating three quarter-point interest-rate cuts from the Federal Reserve in 2024. However, recent developments indicate a growing conviction among traders that only two such cuts are likely, reported Bloomberg. Market indicators, particularly interest-rate swaps, are pointing towards an easing of around 60 basis points in US monetary policy throughout the year. This suggests that the prevailing consensus is now in favor of two rate cuts, with the first expected to be implemented by September. This adjustment in expectations is a significant departure from earlier projections, where the likelihood of a third rate cut was deemed relatively high, standing above 50% as recently as last Friday. The rationale behind this revised outlook reflects a nuanced interpretation of economic data and Fed communication. Traders are closely monitoring upcoming US inflation data, scheduled for release on Wednesday, which is expected to provide critical insights into the central bank’s policy trajectory. The potential impact of inflation dynamics on Fed decisions, coupled with ongoing economic developments, will continue to shape market sentiment and drive trading strategies in the coming months. As such, market participants remain vigilant, ready to adjust their positions in response to shifting economic conditions and central bank actions.

Meanwhile, across the stock market in the U.S., stocks such as Agilent Technologies, Inc. (NYSE:A) and Eaton Corporation plc (NYSE:ETN) are receiving a massive vote of approval from Wall Street analysts. Check out the complete article to see the details of these and other stocks.

Stocks Receiving a Massive Vote of Approval From Wall Street Analysts

A close up shot of a stock ticker reflecting the performance of Indian equity markets.

10. Fox Corporation (NASDAQ:FOXA)

Price Reaction after the Upgrade: -0.12 (-0.39%)

In a significant move within the media sector on April 5, Seaport Global Securities analyst David Joyce made headlines by upgrading Fox Corporation (NASDAQ:FOXA) from a Neutral to a Buy rating, accompanied by a bullish price target of $37.00. One of the key catalysts driving this upgrade is the anticipated surge in advertising spending, particularly attributed to the impending Presidential election cycle. With record-breaking ad revenues projected, Fox Corporation stands to benefit substantially from this cyclical event, potentially leading to robust financial gains and enhanced shareholder value. Moreover, Joyce emphasized the resolution of previous challenges faced by Fox Corporation, particularly in relation to Fox News ratings and direct-response advertising. The successful navigation of these hurdles sets the stage for a more stable and optimistic trajectory for the company, bolstering investor confidence in its growth potential. Despite the upgrade’s favorable implications, the market’s immediate response was relatively muted, with the stock experiencing a slight decrease of 0.39% compared to its closing price of $31.02 on April 5. This cautious reaction suggests that while Joyce’s assessment is optimistic, investors may be exercising prudence in fully embracing the upgrade until further validation or evidence of performance improvement emerges. In summary, Joyce’s upgrade of Fox Corporation reflects a bullish stance on the company’s prospects, driven by anticipated advertising revenue growth and the resolution of previous challenges. However, market participants appear to be adopting a wait-and-see approach, perhaps awaiting additional confirmation of Fox Corporation upward trajectory before fully committing to the stock.

09. Public Storage (NYSE:PSA)

Price Reaction after the Upgrade: +1.93 (+0.69%)

On April 5, Public Storage (NYSE:PSA) witnessed a notable uptick in market sentiment following an upgrade by Wells Fargo analyst Eric Luebchow. The stock experienced a positive price reaction, climbing by 0.69% while closing at $282.57 on the closing bell on April 5. Luebchow’s upgrade from Equal Weight to Overweight, coupled with a revised price target of $310.00 up from $280.00, underscores a bullish stance on Public Storage future trajectory within the real estate investment trust (REIT) industry. Luebchow’s analysis highlights several compelling factors contributing to the optimistic outlook for Public Storage. Notably, the company is expected to outperform its peers in terms of same-store growth and funds from operations (FFO) growth in the near term. This anticipated outperformance is underpinned by strong rental volumes projected for 2023, which are poised to provide leverage for increased expected cash returns on investments (ECRIs). Looking ahead, Luebchow sees a clear pathway for Public Storage to accelerate its same-store and FFO growth to mid-single digits by 2025, surpassing consensus estimates by nearly 2%. Importantly, Public Storage is currently trading at a multiple approximately one times lower than its closest peer, Extra Space Storage (NYSE:EXR), suggesting an attractive valuation proposition for investors. Wells Fargo’s new price target of $310 for Public Storage implies a multiple of approximately 17-18 times the projected 2025 FFO per share. Additionally, Luebchow mentioned an upside case where the stock could reach $360, reflecting a multiple of around 20 times the expected 2025 FFO per share. These revised targets underscore a confidence in Public Storage growth prospects and its potential for market revaluation.

08. American Express Company (NYSE:AXP)

Price Reaction after the Upgrade: +2.87 (+1.31%)

On April 5, Monness, Crespi, Hardt analyst Gus Gala upgraded American Express Company (NYSE:AXP) from Neutral to Buy and announced a $245 price target for the company. American Express experienced a notable uptick in market activity following the upgrade. The stock saw a positive price reaction, surging by 1.31% while closing at a price of $222.46 on April 5. The upgrade is underpinned by several compelling factors highlighted by the firm. Firstly, American Express Company resilience, attributed to its affluent customer base, is seen as a key strength in navigating economic uncertainties. The firm also emphasizes the potential for loan growth, particularly in light of the spending and lending patterns demonstrated by the company’s high-end consumer base. Moreover, Gala underscores the opportunities for American Express Company to reprice its products, with a significant number of product refreshes anticipated throughout the year. Notably, the firm anticipates 40 product refreshes in total, which are expected to enhance net card fees and drive revenue growth. Furthermore, Gala highlights the company’s favorable position in the current interest rate environment, with American Express Company liability sensitivity mitigating potential adverse effects of elevated interest rates.

The firm also points to strategic advantages stemming from recent product updates, such as the Delta portfolio update announced in late March 2024. These updates are expected to bolster net card fees and attract newer customer segments, thereby driving consistent fee generation and potentially higher loan growth compared to previous years. In addition to internal factors, Monness, Crespi, Hardt identifies external catalysts that could benefit American Express Company, including regulatory changes and competitive dynamics within the payment network industry. Potential revisions to Basel III regulations and recent partnerships within the industry may alleviate concerns over capital buffers and enhance American Express Company competitive position. Lastly, the firm expresses confidence in the commercial segment’s potential for recovery in the latter half of 2024. Despite recent softness in billed business, robust demand from new card members and anticipated improvements in same store sales are expected to drive growth in this segment.

07. Lindsay Corporation (NYSE:LNN)

Price Reaction after the Upgrade: +1.76 (+1.54%)

On April 5, Lindsay Corporation (NYSE:LNN), a prominent player in the global irrigation and infrastructure equipment and technology industry, experienced a significant boost in market sentiment following an upgrade by Northcoast Research analyst Ryan Connors. The stock witnessed a positive price reaction, climbing by 1.54%, while closing at $116.25 on April 5. Connors’ upgrade from Neutral to Buy, coupled with a raised price target of $142.00, reflects a bullish outlook on Lindsay Corporation prospects within its niche market. Lindsay Corporation, established in 1955, has a rich history of pioneering research and development in innovative solutions to address the world’s escalating needs for food, fuel, fiber, and transportation. As a leading manufacturer and distributor of irrigation and infrastructure equipment, the company has consistently demonstrated its commitment to meeting the evolving demands of a rapidly growing global population. The recent quarter results shed light on Lindsay Corporation performance. Despite a 9 percent decrease in total revenues to $151.5 million, attributed to lower irrigation revenues, the company has shown resilience through increased Road Zipper System lease revenues, supporting an accretive sales mix shift and bolstering infrastructure results. Diluted earnings per share stood at $1.64, a marginal increase from $1.63 in the prior year quarter, indicating stability and modest growth trajectory. Connors’ upgrade underscores confidence in Lindsay Corporation ability to navigate market challenges and capitalize on emerging opportunities. The raised price target reflects expectations of continued growth and value creation, driven by the company’s innovative product offerings and strategic initiatives.

06. Snowflake Inc. (NYSE:SNOW)

Price Reaction after the Upgrade: +2.52 (+1.67%)

On April 5, Snowflake Inc. (NYSE:SNOW), a leading player in the cloud data analytics industry, witnessed a notable surge in market activity following an upgrade by Rosenblatt Securities. Rosenblatt’s upgraded Snowflake Inc. from Neutral to Buy, accompanied by a raised price target of $185. The stock experienced a robust price reaction, soaring by 1.67% while closing at $153.86 on April 5. The decision to upgrade Snowflake Inc. stems from Rosenblatt’s optimistic assessment of the company’s platform and its expanding ecosystem. Analysts at Rosenblatt anticipate sustained consumer interest in Snowflake Inc. offerings, expecting the company’s platform to continue attracting significant attention and engagement from a broad base of users. Rosenblatt’s bullish adjustment follows a period of weakness in Snowflake Inc. stock post-Q4 results. With an implied return of 22% to their $185 12-month target price, analysts at Rosenblatt saw an opportune moment to upgrade Snowflake to a Buy rating, indicating confidence in the company’s growth potential.

The upgrade by Rosenblatt was influenced by their attendance at a customer event in Toronto, during which Snowflake Inc. unveiled several new product innovations. These innovations are anticipated to be officially launched and monetized later in the year, with many slated to be unveiled at the upcoming Data Cloud Summit scheduled for June 3-6. Key highlights from the presentations included demonstrations of Snowflake’s platform and Snowpark’s machine learning (ML) code development and deployment features. These features aim to empower customers to rapidly design and deploy new AI-powered applications, enhancing their capabilities in leveraging data-driven insights. Rosenblatt analysts emphasized their keen observation of Snowpark’s traction with customers, acknowledging that it is still early days. However, they view Snowpark as a crucial tool for Snowflake Inc. to drive long-term customer retention levels, underscoring its potential significance in shaping Snowflake’s growth trajectory.

05. Agilent Technologies, Inc. (NYSE:A)

Price Reaction after the Upgrade: +2.78 (+1.97%)

On April 5, Stifel upgraded Agilent Technologies, Inc., a leading player in the scientific instruments industry, from Hold to Buy, accompanied by a raised price target from $145.00 to $163.00. This move spurred a significant surge in market activity, with the stock witnessing a robust price reaction, soaring by 1.97% while closing at $144.86 on April 5. Stifel’s upgrade , reflects an optimistic outlook for Agilent Technologies, Inc. future prospects within its sector. The decision to upgrade Agilent Technologies, Inc. was grounded in Stifel’s positive assessment of the company’s outlook, particularly regarding instrument demand in the latter half of the year. This positive sentiment was bolstered by insights gleaned from a biopharma industry survey, which indicated an anticipated acceleration in instrument demand. Stifel’s analysis highlighted several factors contributing to Agilent’s improved relative appeal in the market. Notably, while there were some less optimistic indicators on the consumables side, the expected acceleration in instrument demand outweighed these concerns, strengthening Agilent Technologies, Inc. position. Moreover, Stifel emphasized company-specific factors such as platform choice and portfolio enhancements that further contribute to Agilent’s positive outlook. These factors align with the company’s strategic initiatives aimed at enhancing its offerings and addressing evolving customer needs. In addition to the biopharmaceutical sector, Stifel identified applied markets, particularly in PFAS (per- and polyfluoroalkyl substances) and advanced materials testing, as potential growth differentiators for Agilent Technologies, Inc.. The anticipated demand in these areas is expected to drive Agilent Technologies, Inc. differentiation and expansion, further supporting the bullish stance.

04. Eaton Corporation plc (NYSE:ETN)

Price Reaction after the Upgrade: +10.35 (+3.23%)

On April 5, RBC Capital upgraded Eaton Corporation plc (NYSE:ETN) from Sector Perform to Outperform, along with a substantial increase in the price target from $286 to $371. The decision to upgrade Eaton Corporation plc (NYSE:ETN) stems from RBC Capital’s identification of the company as a prime large-cap stock poised to benefit from the ongoing electrical supercycle. This optimism is grounded in several key factors, including Eaton Corporation plc (NYSE:ETN) involvement in over 330 billion-dollar megaprojects and its leading exposure to the rapidly growing datacenter market, projected to achieve a mid-teens compound annual growth rate (CAGR). Of particular note is Eaton Corporation plc (NYSE:ETN) broad-based datacenter exposure, which RBC Capital anticipates will continue to drive growth and potentially expand into related areas. Additionally, the firm sees the arrival of a new CEO in 2025 as a potential catalyst for upward revisions of long-term company targets. Furthermore, strategic portfolio adjustments, such as the divestiture of the Vehicle Joint Venture, present opportunities for Eaton to further optimize its business structure. The upgrade reflects RBC Capital’s belief in the durability of multiple secular trends that Eaton Corporation plc (NYSE:ETN) is well-positioned to capitalize on. The company’s diverse project involvement and strategic positioning within the electrical industry are key drivers of RBC Capital’s bullish stance. The new price target of $371 implies an upside of 16% from the previous target, signaling a confident outlook for Eaton’s stock performance. The upgrade triggered a notable surge in market activity, with Eaton’s stock witnessing a robust price reaction, soaring by 3.23% on April 5.

03. Western Digital Corporation (NASDAQ:WDC)

Price Reaction after the Upgrade: +2.57 (+3.64%)

On April 5, Rosenblatt made a significant move by upgrading Western Digital Corporation (NASDAQ:WDC), a key player in the data storage industry. Rosenblatt’s upgrade to Buy from Neutral, accompanied by a raised price target of $115, reflects a bullish sentiment towards Western Digital Corporation prospects within the industry. The decision to upgrade Western Digital stems from Rosenblatt’s assessment of strengthening NAND Flash prices, a key component in the company’s product offerings. Industry data indicates a projected rise of 15% or more in NAND Flash average contract prices for the second quarter of 2024. This increase is being primarily driven by growing demand, low inventories, and disciplined capacity controls within the industry. Rosenblatt has adjusted its assumptions regarding NAND Flash Average Selling Prices (ASP) for the next four quarters and maintains a view of NAND Flash demand as price elastic. This suggests that demand for NAND Flash memory remains sensitive to changes in price, which bodes well for Western Digital Corporation revenue and profitability.

Furthermore, Rosenblatt anticipates limited new capacity expansions within the industry until gross margins reach the mid-30%. This expectation suggests a favorable supply-demand balance for Western Digital and its competitors in the near term, potentially leading to improved profitability and market positioning. With these factors in mind, Rosenblatt has revised Western Digital Corporation 12-month price target to $115, up from $65. This target is based on a multiple of 13 times their Next Twelve Months (NTM) Non-GAAP Earnings Per Share (EPS), indicating confidence in Western Digital Corporation growth potential and market performance over the coming year.

02. Natera, Inc. (NASDAQ:NTRA)

Price Reaction after the Upgrade: +4.39 (+4.75%)

On April 5, Sanford C. Bernstein made a significant move by upgrading Natera, Inc. (NASDAQ:NTRA), a global leader in cell-free DNA testing, from a “market perform” to an “outperform” rating, while setting a target price of $120.00 for the company. This upgrade triggered a substantial surge in market activity on April 5, with Natera, Inc.stock witnessing a robust price reaction, climbing by 4.75%. On April 5, Natera, Inc. revealed findings from the IMvigor011 study at the EAU Congress 2024. The study focused on muscle-invasive bladder cancer (MIBC) patients testing negative with Signatera™, Natera’s MRD test. Sponsored by Genentech, IMvigor011 involved high-risk MIBC patients undergoing serial Signatera testing post cystectomy. MRD-negative patients showed impressive overall survival (OS) rates of 100% at 12 months and 98% at 18 months, with disease-free survival (DFS) rates of 92% at 12 months and 88% at 18 months. John Simmons, Natera, Inc. Vice President of BioPharma, highlighted the trial’s importance in personalizing MIBC treatment decisions with Signatera. The findings may support Natera, Inc. FDA submission for Signatera as a companion diagnostic, advancing personalized medicine in MIBC care.

01. Krispy Kreme, Inc. (NASDAQ:DNUT)

Price Reaction after the Upgrade: +1.04 (+7.28%)

On April 5, Piper Sandler analyst Brian Mullan boosted Krispy Kreme, Inc. (NASDAQ:DNUT) from Neutral to Overweight, setting a new price target of $20.00 up from $14.00. This adjustment comes on the heels of Krispy Kreme, Inc. recent nationwide collaboration with McDonald’s (NYSE:MCD), a move Piper Sandler views as potentially transformative for the doughnut chain’s future. Piper Sandler expressed confidence in Krispy Kreme, Inc. prospects, signaling that the challenges the company faced since its IPO about 30 months ago are now receding. With the new partnership as a catalyst, Piper Sandler foresees a positive shift in the narrative surrounding Krispy Kreme. The analyst from Piper Sandler believes the McDonald’s partnership holds significant transformative potential for Krispy Kreme, Inc., indicating a brighter future for the doughnut brand. This strategic alliance is anticipated to reshape market perception and investor sentiment toward Krispy Kreme, which has encountered hurdles since its market debut. Regarding financial outlook, Piper Sandler set a fresh price target of $20.00 for Krispy Kreme, Inc., envisioning a potential 40% upside over the next 12 months. The firm emphasized that this target represents a base case scenario rather than an overly bullish projection. The upgrade and revised price target mirror Piper Sandler’s increasing confidence in Krispy Kreme’s capacity to capitalize on its collaboration with McDonald’s to spur growth and enhance its competitive stance. This updated perspective suggests investors may reap substantial rewards if Krispy Kreme, Inc. effectively executes its strategic initiatives.

Baron Growth Fund made the following comment about Krispy Kreme, Inc. in its Q3 2023 investor letter:

“We increased our holding in Krispy Kreme, Inc. (NASDAQ:DNUT), an omni-channel manufacturer and retailer of doughnuts. Krispy Kreme sells its product through its owned and franchised doughnut shops, and in grocery and convenience stores through its Delivered Fresh Daily (DFD) network. Krispy also sells via e-commerce. Krispy Kreme is successfully executing its plan to grow DFD points of access by 10% to 15% annually. It now services nearly 13,000 points of access in 37 countries by leveraging over 400 doughnut producing hubs worldwide.

We believe that Krispy Kreme is making consistent progress along its core growth vectors. In its most recently reported quarter, the company grew revenue 11.4% organically as it benefited from pricing, growth in premium specialty doughnuts, and the growth of DFD. Within the U.S., sales per hub grew 9%, while average sales per DFD location increased by 16%, indicating the long growth runway that exists within its existing footprint.

We remain excited by the trial with McDonald’s in the Louisville, Kentucky area, which presently includes 160 locations. To date, sales at McDonald’s have proven to be incremental to existing donut shop and DFD sales in the region, and Krispy Kreme has been able to successfully serve these additional points of access from its existing hub network. We believe that a successful trial in Kentucky could ultimately lead to a broader rollout across McDonald’s restaurants and may also motivate additional quick service restaurant chains to contemplate a similar partnership with Krispy Kreme.”

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