10 Multibagger Stocks to Buy According to Wall Street

8. Flex (NASDAQ:FLEX)

Average Upside Potential: 91%

Number of Hedge Fund Holders: 94

Goldman Sachs analyst Mark Delaney lifted his price target on Flex to $159 from $145 on October 29 and kept a Buy rating, a day after the company raised its full-year outlook.

Flex builds electronics for other companies, and its fastest-growing unit now makes power and cooling equipment for AI data centers. That unit grew 54% in the fiscal second quarter, and management expects full-year adjusted earnings per share to rise 52% at the midpoint. Chief Executive Officer Revathi Advaithi plans to spin the unit off as a separate company called Axiom.

Shareholders approved the Axiom spin-off earlier this month, by an overwhelming margin. Flex expects to complete the separation in the first quarter of 2027.

Debt comes with it. Flex borrowed $4.4 billion to buy EPC Power, a maker of power conversion equipment, and Axiom agreed to sell $2 billion of convertible preferred stock to repay part of that. Advaithi says EPC adds products for the 800-volt power designs data centers are moving toward.

7. Seagate (NASDAQ:STX)

Average Upside Potential: 94%

Number of Hedge Fund Holders: 131

Morgan Stanley analyst Erik Woodring rated Seagate Overweight with a $1,148 price target on November 6. He says fundamentals are strong while sentiment is weak, and he thinks buybacks could eventually reach about 30% of the company’s market value. Pricing in calendar 2028 is the risk he watches.

Seagate makes the hard drives cloud companies use to store data. Its Mozaic drives use heat-assisted magnetic recording, known as HAMR, to fit up to 44 terabytes on one drive, and two leading cloud providers are ramping them. Revenue rose 61% in the fiscal first quarter, and gross margin hit a record.

Chief Executive Officer Dave Mosley expects HAMR to make up roughly half of nearline shipments by the end of the year. Management says most nearline supply is already allocated through 2028. Our look at how Seagate rose selling a technology many had buried tells the longer story.

6. Strategy (NASDAQ:MSTR)

Average Upside Potential: 96%

Number of Hedge Fund Holders: 37

B. Riley analyst Fedor Shabalin trimmed his price target on Strategy to $180 from $195 on November 3 to reflect a lower bitcoin price. He kept a Buy rating. TD Cowen also kept a Buy rating, with a $260 target, on October 30. It points to a cash reserve that covers roughly 3.2 to 3.4 years of preferred dividends and debt interest, and to a steadier STRC preferred stock.

Strategy started as a business software company and is now the largest corporate holder of bitcoin, with 848,517 coins. Software revenue is tiny next to that pile, so results swing with bitcoin’s price. Third-quarter earnings of $44.75 per diluted share were almost all a paper gain on the coins.

The balance sheet looks sturdier than it did, with lower net leverage. Bears focus on bitcoin per share, the measure management calls most important. It fell 3.7% this year as the company sold stock and some coins to fund preferred dividends and buybacks. Chief Financial Officer Andrew Kang has also stepped down, citing personal reasons. You might also be interested in reading our piece on Strategy’s earlier surge on growing digital asset adoption.

5. Oracle (NYSE:ORCL)

Average Upside Potential: 97%

Number of Hedge Fund Holders: 119

Stephens analyst Brett Huff upgraded Oracle to Overweight from Equal Weight on November 2 and raised his price target to $213 from $185. Oracle’s investor day settled his biggest worry: how it will pay for its AI cloud buildout. New capital raises are capped at $20 billion, lower than he feared, and he expects free cash flow to come in higher.

At the same event, management set a fiscal 2030 revenue target of $225 billion or more and said free cash flow should turn positive in the second half of fiscal 2028. The stock jumped about 11% that day.

Oracle sells the databases and business software many large companies run on, and it now rents out AI computing capacity too. Its long-standing database customers give it a ready base to sell cloud services into. We also examined whether Oracle’s economic moat is widening or narrowing.