In this article, we will take a look at 15 large cap stocks under $30 that currently offer attractive upside potential to investors.
On March 20, Caroline Woods from The Street sat down with Mo Haghbin, Managing Director at ProShares, to break down where the money is actually going amid a market dealing with rising geopolitical tensions and oil price volatility.
The big picture? The economy was in a pretty solid place before the Iran conflict broke out, the labor market was stable, inflation was largely under control, and growth was on a strong footing. But the war has affected investor behavior in noticeable ways. Equity ETF flows, which had a record start to the year, have slowed sharply, running about 80% below the monthly pace seen before the conflict. Fixed income, particularly shorter-duration products, is now leading the charge. What’s surprising is where money isn’t going.
Haghbin also noted that despite oil hovering near $100 a barrel, commodities are actually seeing outflows. Investors aren’t convinced that elevated energy prices will last for long, and if Iran reintegrates into the global economy, the supply coming back online could actually push prices back down. Within equities, investors are becoming more selective, moving away from broad-based index exposure and into more targeted sector and thematic strategies.
Despite the noise, Haghbin’s base case remains that the market ends the year higher and that this conflict is something the broader economy can absorb.
With that background, let’s explore our 15 Large Cap Stocks Under $30 With Huge Upside Potential.
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Our Methodology
To identify relevant stocks for this article, we conducted a sector-agnostic screening of U.S.-listed companies with share prices below $30 and market capitalizations above $10 billion. Also, we shortlisted only stocks with at least 35% upside potential according to TipRanks consensus as of the March 23 closing. Finally, we selected 15 stocks with the highest upside and ranked them in ascending order.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
15. Infosys Ltd. (NYSE:INFY)
Infosys Ltd. (NYSE:INFY) is one of the 15 large cap stocks under $30 with huge upside potential.
On February 23, Akshat Agarwal from Jefferies downgraded Infosys Limited (NYSE:INFY) from a Buy rating to Hold. The analyst also lowered his target price for the stock from $20.82 to $14.31, resulting in an adjusted upside of almost 8%.
Agarwal claims that AI has the potential to significantly change the IT business mix from managed services to consulting and installation. This would increase cyclicality and need a change in the operating strategy, consequently raising risk. The firm notes that the Indian market for computer services and IT consulting continues to shrink.
Earlier on February 17, Infosys Limited (NYSE:INFY) and Anthropic launched a strategic partnership to create and provide cutting-edge enterprise AI solutions to businesses in software development, manufacturing, financial services, and telecommunications. To develop and implement AI agents suited to industry-specific operations, the partnership will start in the telecoms sector with a specialised Anthropic Centre of Excellence.
The partnership will continue to grow across areas, such as software development, manufacturing, and financial services. Fundamentally, the partnership combines Infosys Topaz AI products with Anthropic’s Claude models, notably Claude Code.
Infosys Ltd. (NYSE:INFY) offers technology, consulting, and digital solutions, covering various regions around the globe. These include digital commerce, digital marketing, data analytics, generative AI, blockchain, and more. The company also delivers application modernization, cloud solutions, cybersecurity, and digital supply chain solutions.
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