10 Best All-Time High Stocks to Buy According to Wall Street

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4. ICICI Bank (NYSE:IBN)

Average Upside Potential: 10%

Share Price: $33.89

Target Price: $37.36

Number of Hedge Fund Holders: 31

ICICI Bank’s profit after tax rose 20.1% to US$1.5 billion in its fiscal second quarter, and the loan book behind it stayed clean: loans classed as non-performing were 1.20% of gross loans at the end of September. It is a rare mix of fast growth and a cleaner book.

Lending is where the growth shows. Excluding loans that its international branches made against foreign-currency deposits, total loans grew 24.1% from a year earlier, and deposits excluding those foreign-currency deposits grew 17.0%. Including them, loans grew 30.0% and deposits 27.1%. Net interest income, the difference between what the bank earns on loans and pays on deposits, grew 17.7% to US$2.6 billion. Growing deposits at that pace gives the bank the cheap funding it needs to keep making loans.

The bank’s net interest margin came in at 4.18%, and its average CASA ratio, the share of its deposits held in lower-cost current and savings accounts, was 35.8%. Those two measures show how cheaply the bank funds its lending while the loan book expands. A wide margin on a growing book is what lets a bank lift profit this quickly.

3. Thermo Fisher Scientific (NYSE:TMO)

Average Upside Potential: 10%

Share Price: $694.76

Target Price: $766.12

Number of Hedge Fund Holders: 118

Thermo Fisher’s newest bet is Precure, a program launched with Mayo Clinic that will combine data from more than one million patient samples with the company’s proteomics tools. It adds a data business to a company best known for lab instruments. Precure is a bet that data from patients can become a repeat business.

The third quarter showed the broader model working. Revenue grew 9% to $12.14 billion. Adjusted earnings per share grew faster, up 15% to $6.68, because the adjusted operating margin widened to 24.5% from 23.3%. Chairman and Chief Executive Officer Marc Casper called it an excellent quarter with outstanding financial performance. Profit rising faster than sales is the sign of a business gaining pricing power and efficiency.

New products keep the pipeline full, including the Orbitrap Isora mass spectrometer and the Ion 560 Chip for its gene sequencing platform. Whether the premium its shares command is deserved is the question in our piece on Thermo Fisher’s valuation and earnings outlook. Fresh products in the instrument and sequencing lines give the company new things to sell to labs and drugmakers.

2. SiriusPoint (NYSE:SPNT)

Average Upside Potential: 11%

Share Price: $26.33

Target Price: $29.25

Number of Hedge Fund Holders: 16

SiriusPoint is about to close the books on the part of its past that has weighed on the business. The insurer agreed to a loss portfolio transfer with RiverStone covering substantially all of its remaining run-off reserves, a deal Chief Executive Officer Scott Egan said will “effectively close the door on this historical book of reserves.” The company expects it to free up more than $200 million of capital once regulators approve it. Ending the run-off also simplifies the story for investors who have had to look past old reserves.

What remains is the business it is building. Core gross written premiums grew 14% in the third quarter, led by its insurance and services unit. The consolidated combined ratio, which compares claims and costs with premiums, was 86.5%. Growth with a combined ratio below 100% means the insurer is earning an underwriting profit on the business it writes.

Book value per diluted common share excluding accumulated other comprehensive income reached $20.21, up 12% from the end of last year. SiriusPoint reports from Hamilton, Bermuda, and net income available to common shareholders for the quarter was $0.74 per diluted share.

1. Liberty Media (NASDAQ:FWONK)

Average Upside Potential: 15%

Share Price: $106.33

Target Price: $122.67

Number of Hedge Fund Holders: 87

Formula 1 President and Chief Executive Officer Stefano Domenicali told investors that every race this season has sold out, with more than half setting attendance records. The numbers from Liberty Media’s third quarter fit that story. Formula 1 revenue rose 28% to $1.12 billion, and adjusted OIBDA, or operating income before depreciation and amortization, jumped 44% to $338 million. The quarter included seven races, compared with six a year earlier. Selling out every race gives the sport pricing power with promoters, broadcasters and sponsors, and the revenue figures show it is being used. Those are the numbers behind the demand story.

Liberty also simplified its ownership. It bought all of the Series B shares held by John Malone and related entities in exchange for Series A and Series C shares, which cut Malone’s voting power to about 3%. The deal closed last week. Chief Executive Officer Derek Chang said Formula 1 continues to deliver exceptional performance and extend its reach. Fewer classes of stock and less concentrated control make Liberty simpler to own and to value. It leaves Liberty with a clearer ownership structure while the sport it owns keeps growing.

READ NEXT: Thermo Fisher (TMO) Is Turning Innovation Into Recurring Revenue. Can Margins Follow? and Gilead vs. Thermo Fisher: Which Life Sciences Stock has the Stronger Growth Outlook?

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