Stocks that an have upside heading into earnings, according to Bank of America
Nvidia is on the minds of investors as the tech giant preps to release its earning reports. However, Bank of America suggests that Nvidia isn’t the only company worth investing in during this period. Numerous top-tier companies have yet to present their quarterly reports.
Bank of America has done its research and highlighted some appealing stocks leading into earnings time. These include Arista Networks, Penn Entertainment, Nvidia, Global Payments, and Sweetgreen.
Global Payments is an enticing prospect, according to analyst Jason Kupferberg. He’s banking on the payment processing company as it prepares to divulge its earnings on Feb. 14. Despite being undervalued and overlooked, Kupferberg believes it presents a unique opportunity for discerning investors.
Arista Networks is another standout, even in a challenging market, says analyst Tal Liani. The cloud-networking company may be a smart bet right now given Microsoft and Amazon’s positive capex comments.
Penn Entertainment also makes the list with analyst Shaun Kelley suggesting investors should buy the dip in shares. The company’s sportsbook deal with ESPN, ESPN Bet, could be a long-term boon for the company.
High growth fast-casual concept Sweetgreen is also appealing, thanks to its digital native nature, high unit-level returns, and store productivity.
Finally, Nvidia maintains its allure, particularly around AI demand, which is just beginning but is becoming increasingly essential to operations.
These stocks present lucrative opportunities for investors amid earnings season, but as always, perspective and patience are key.