Diamond Member Pelican Press 0 Posted March 22 Diamond Member Share Posted March 22 Here are the stocks Wall Street believes will push the Dow over 40,000 The Dow Jones Industrial Average’s recent run has left the longstanding stock market benchmark on the cusp of an unprecedented milestone. The 30-stock average rose more than 2% this week, lifting it to record highs and putting it within reach of 40,000. The Dow — which debuted in 1896 — fell slightly on Friday, but was still in striking distance of the key level. This week’s surged has been spurred by the Federal Reserve reiterating expectations for three rate cuts in 2024. Fed Chair Jerome Powell also noted that a strong labor market wouldn’t deter the central bank from easing policy. .DJI YTD mountain The Dow Jones Industrial Average is nearing the 40,000 level. Against this backdrop, CNBC Pro set out to find which stocks could lead the Dow to 40,000 and beyond. Using the CNBC Pro Stock Screener tool, we screened for stocks with average analyst price targets that imply 10% or more upside over the next 12 months. ( Click here to add this screener to your Pro stock screener. You can also further customize it yourself.) Apple made the list. The stock was under pressure Thursday, losing 4% after the U.S. Department of Justice filed an antitrust lawsuit against the iPhone maker. Shares have pulled back more than 11% year to date. AAPL YTD mountain Apple stock. But analysts are not moving to the sidelines on Apple just yet, with 57% of those polled by FactSet maintaining a buy or overweight rating on Apple. Morgan Stanley’s Erik Woodring said Wall Street could be overlooking Apple’s artificial intelligence efforts which could be programmed into the iPhone in the future and thus “more than offset June Q [estimate] concerns and the long-tailed DOJ lawsuit.” Boeing also made the list. The stock has also been under pressure in 2024, pulling back nearly 27%. The company has faced increased scrutiny over safety issues tied to its 737 Max. BA YTD mountain Boeing stock. But 69% of analysts polled by FactSet are sticking by a buy or overweight rating on Boeing stock. Average analyst price targets imply 36% upside ahead, per LSEG. “We believe this is a good buying opportunity, especially on a multi-year horizon,” UBS analyst Gavin Parson said on Tuesday, where he reiterated a buy rating on Boeing stock with a $275 per share price target, or nearly 47% upside from Thursday’s close. Other potential Dow leaders that could drive benchmark to 40,000 include recent addition This is the hidden content, please Sign In or Sign Up as well as oil giant Chevron . This is the hidden content, please Sign In or Sign Up Dow Jones Industrial Average,Chevron Corp, This is the hidden content, please Sign In or Sign Up .com Inc,Boeing Co, This is the hidden content, please Sign In or Sign Up ,Markets,Investment strategy,business news #stocks #Wall #Street #believes #push #Dow This is the hidden content, please Sign In or Sign Up Link to comment https://hopzone.eu/forums/topic/6176-here-are-the-stocks-wall-street-believes-will-push-the-dow-over-40000/ Share on other sites More sharing options...
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