Mizuho’s top stock picks from here, including a new chip play

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Mizuho’s top stock picks from here, including a new chip play

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and discounted valuation. With a price target of $20, the stock has an implied upside of nearly 26% as of Friday’s close. Shares are up more than 15% this year. Like Mizuho, Wolfe Research recently added Energy Transfer to its Alpha List for the month, seeing significant upside ahead. Lowe’s is one of the three names on the list that Mizuho is more bullish on than the Street’s consensus. Of the 36 analysts reporting on the retailer, 16 have a buy or strong buy rating on the stock, while 18 are neutral, according to LSEG. The average price is around $256, which implies around 5% upside from Friday’s close. Meanwhile, Mizuho’s target of $280 implies upside of nearly 15%, and the firm sees Lowe’s as “decisively well-positioned” to benefit from anticipated demand recovery in the industry. “The home improvement sector is moving towards the later stages of postpandemic digestion, with LOW set to favorably lap the more pronounced downshift in DIY spending starting in Q3,” analyst David Bellinger wrote in the analyst note. He added that any future easing by the Federal Reserve “could unlock significant pent-up demand.” “We envision a scenario where existing home sales bounce back to a more conducive ~4.5M annual level and propel sector demand upwards,” Bellinger said. Mizuho isn’t alone in its stance, as Lowe’s was also just added to JPMorgan’s September focus list. This year, the stock is up more than 9%.

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