Forget the Magnificent 7 — Top tech analyst Mahaney recommends the ‘Electric Eleven’

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Forget the Magnificent 7 — Top tech analyst Mahaney recommends the ‘Electric Eleven’

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, Alphabet and Meta in his new Electric 11 lineup.

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and Meta have respectively gained 16% and 40% this year, while shares of Alphabet are largely unchanged. On Monday , Morgan Stanley reiterated Meta at an overweight rating, while Goldman Sachs stood by its buy rating for

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. Bank of America reiterated its buy rating for Alphabet earlier this month. Another name that Mahaney included was online travel company Booking Holdings . The stock declined last month after issuing weaker-than-expected first-quarter guidance and is now down slightly on the year. Seaport Research initiated coverage of the stock at a buy rating in late February. “Booking.com’s strong global position has enabled it to benefit from strong brand awareness which drives more direct traffic and hence higher margins (expect 33% EBITDA margins in 2023),” wrote analyst Aaron Kessler. Uber , up about 27% this year, is another name in the Electric 11. Shares received a boost after the ride-hailing company announced a $7 million share buyback program last month. In February , Bank of America reiterated its buy rating on the name and lifted its price target to $91 from $78. This implies Uber stock could rally more than 17% from Monday’s close.

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Investment strategy,Stock markets,

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,Tesla Inc,

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.com Inc,Alphabet Inc,Meta Platforms Inc,Booking Holdings Inc,Uber Technologies Inc,business news
#Forget #Magnificent #Top #tech #analyst #Mahaney #recommends #Electric #Eleven

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