These are Mizuho’s top stock picks heading into May

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These are Mizuho’s top stock picks heading into May

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. The latter two have recently posted solid beats on quarterly earnings and revenue. Here are some of Mizuho’s top picks for the month. Shares of hospital operator Universal Health Services are up more than 11% in 2024, but analyst Ann Hynes sees nearly 18% upside from Thursday’s close, based on her price target of $200. Mizuho said this price target is 5.3% above the consensus, making the firm more bullish than its peers. Hynes sees potential upside on the company’s 2024 earnings, driven by an improvement in premium labor trends and service mix. “UHS operates in two segments: Acute Care and Behavioral Health. We believe both segments should benefit from meaningful margin expansion opportunity over the next 12-24 months driven by an increase in demand and easing labor pressures,” she wrote. Mizuho’s top pick for May is new addition EyePoint Pharmaceuticals. Analyst Graig Suvannavejh’s $39 price target represents 95% upside from where shares closed on Thursday. The analyst pointed out EyePoint’s lead asset, Duravyu, as a major catalyst. He thinks that the intravitreal implant could rise to become a new standard of care for the maintenance treatment of retinal *********. “Notably, amidst competition, we view EYPT as being a best-in-class product,” he added. EyePoint has slipped nearly 14% this year. The bank’s final new addition for the month was financial services firm Block. Analyst Dan Dolev’s $106 price target is 13.3% above consensus. It also suggests that shares could rise more than 50% from here. Shares of Block have slipped 9% this year. Dolev thinks that Block could post ****** profit growth in 2024 of over 20%, which is higher than its current guidance of roughly 15%. “Plus, management has a renewed attentiveness towards cost control,” he added. “This, coupled with stronger-than-expected top-line growth, can offer healthy [earnings before interest, taxes, depreciation and amortization] upside vs. guide.”

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Corp,NVIDIA Corp,Block Inc,Universal Health Services Inc,EyePoint Pharmaceuticals Inc,Stock markets,Investment strategy,business news
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