In light of economic uncertainty..Wall Street analysts bet on ‎these stocks

The market outlook has been marked by increasing uncertainty, given unprecedented inflation and a slowing economy. Stocks ended Friday with losses. It was ultimately unable to recover from Tuesday’s heavy sell-off in which the Dow Jones Industrial Average shed more than 1,200 points.

While the three major indices recorded their worst weekly performance last week since June, as the benchmark Standard & Poor’s 500 Index fell 4.7% last week, the Dow Jones Industrial Average fell 4.1%, and the Nasdaq Composite Index fell 5.5%.

Against this background, investors need to plan well as they choose their investments. To that end, here are five stocks picked by top Wall Street professionals, according to TipRanks, a platform that ranks analysts based on their performance history.

Apple:

Apple doesn’t need an introduction. The iPhone maker has been beating all odds and continues to launch a compelling product. On September 7, the company held its big fall event, launching the much-anticipated iPhone 14 series, along with Apple Watches and AirPods.

Analysts rated Apple stock as a buy, with a target price of $174.

1. EQT Corporation

It is an American energy company engaged in hydrocarbon exploration and pipeline transportation. It is headquartered at EQT Plaza in Pittsburgh, Pennsylvania.

The increasing demand for natural gas as an energy source has fueled the growth of EQT. Needless to say, the significant rise in oil and gas prices this year has also contributed to the rise in the company’s shares.

The company recently entered into a deal to acquire the Tug Hill shale producer. Following the news, RBC Capital Markets analyst Scott Hanold renewed the “buy” rating on EQT stock, with a $2 target price increase to $57.

1. Davon Energy Company:

It is a company engaged in oil exploration in the United States of America. It is organized in Delaware and is headquartered at the main Devon Energy Center.

It is considered among the preferred choices of the best market analysts. The company’s convenient geographic location drives most of its business

1. Broadcom Inc.

It is a US global designer, developer, manufacturer and supplier of a wide range of semiconductor products and infrastructure software. Broadcom’s product offerings serve the data center, networking, software, broadband, wireless, storage and industrial markets. Tan Hock Ing is the company’s president and CEO. The company is headquartered in San Jose, California.

Broadcom’s strong market position in many areas, operating leverage and focus on acquisitions all enhance its profit margins.

1. NVIDIA Corporation:

It is one of the world’s largest producers of graphics processors, video cards, and chipsets for computer and video game systems. It is called a company without a factory and without manufacturing equipment. It is headquartered in Santa Clara, California, USA.