The bull market has lifted stock prices, as well as investor sentiment. A considerable number of stocks have recently been upgraded to Buy or Strong Buy in our exclusive POWR Ratings system.
Some of the most recent POWR Ratings upgrades are: eBay (EBAY), Chewy (CHWY), Keysight Technologies (KEYS) and Dish Network Corporation (DISH).
eBay (EBAY), Rated “A” – Strong Buy
The quarantine has shuttered traditional brick-and-mortar stores, creating a golden opportunity for online retailers to capture market share. EBAY has taken advantage of this opportunity. Though EBAY traded sideways for a couple decades prior to its current breakout, there is a good chance it will retain some of its new customers simply because these users are now comfortable using the platform.
The POWR Ratings have EBAY ranked 8th of 52 stocks in the Internet space with A POWR Component grades across the board. EBAY price returns are in the green for every single period of time. The company’s five-year price return is 94%, its three-year price return is 43% and its three-month price return is a spectacular 78%. In fact, EBAY’s solid price returns go back to 2019 when the company’s annual price return was in excess of 30%.
EBAY’s momentum should help it eclipse the average analyst price target of $50.38 by the end of the third quarter.
Chewy (CHWY), Rated “A” – Strong Buy
If you live in a suburban neighborhood, consider conducting the following experiment: walk around the block in the late afternoon and take a look at the front porches along the street. Chances are you will see plenty of boxes, some of which are from CHWY. CHWY’s pet products are exclusively sold online, making them quite the powerhouse of a company amidst the coronavirus pandemic that has made shopping in traditional stores quite frustrating.
The new customers CHWY has brought into the fold are likely pleased with the company’s service to the point that they will continue to pay for its products in the years ahead, propelling CHWY to the average analyst price target of $55.70. If a second wave of covid-19 emerges in the fall, CHWY will add even more buyers to its current 15 million member customer base.
Keysight Technologies (KEYS), Rated “A” – Strong Buy
Back in 2013, Agilent Technologies divided its operations into two independent businesses. KEYS is one of those companies. This electronic measurement business was added to the NYSE one year after formation. KEYS’ electronic tests and design instrumentation systems now pull in more than $4 billion in non-GAAP revenue.
The POWR Ratings have KEYS ranked first of 35 businesses in the Technology – Electronics space with As in all POWR Components but for its Industry Rank of B. KEYS has a three-month price return of 23%, a one-year price return of 18%, a three-year price return of 170% and an uber-impressive five-year price return of 209%.
Dish Network Corporation (DISH), Rated “B” – Buy
It is quite interesting that a satellite TV provider has been upgraded in the POWR Ratings. The common refrain from the media and countless economists is that customers are “cutting the cord” and opting for streamers, such as Netflix and Hulu, and video games rather than cable and satellite TV. However, DISH is up more than 50% since its last earnings report, merely $7 away from its 52-week high of $44.66.
The POWR Ratings have DISH ranked 5th of 14 stocks in the Entertainment – TV & Internet Providers category with a six-month price return of 4.46%, a three-month price return of 88.63% and a 42% price return across the entirety of 2019. With a forward P/E ratio of merely 18, DISH appears to be a solid value.
It is clear customers are flocking toward all avenues of in-home entertainment amidst the coronavirus outbreak. The only question is whether DISH can sustain its current momentum as the economy reopens.
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EBAY shares were unchanged in after-hours trading Friday. Year-to-date, EBAY has gained 34.83%, versus a -3.54% rise in the benchmark S&P 500 index during the same period.
About the Author: Patrick Ryan
Patrick Ryan has more than a dozen years of investing experience with a focus on information technology, consumer and entertainment sectors. In addition to working for StockNews, Patrick has also written for Wealth Authority and Fallon Wealth Management. More…
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