The list of stocks hitting all-time highs is always an interesting list of stocks for investors to investigate. With the Dow and the S&P 500 both hitting all-time highs just last week, Oggonomics wants to look into the list of the highest-flying stocks which may actually still have room for upside ahead. Most of the stocks are trading above their “fair value.” Some still appear to have potential upside.
Using the daily all-time high and comparing the stocks on that day to the consensus analyst price target is one way to look at a stock. Looking to see if other more aggressive calls have been made in recent days or weeks is an add-on to see which analysts see even more upside than their ratings peers. Just because analyst price targets are higher does not mean they are guaranteed outcomes. In fact, some of these stocks may have to take a breather before investors (and their analysts) will give them the time of day.
The screeners for September 3, 2024 showed approximately 80 stocks which still hit their all-time highs on this day. Only 11 of those 80 screened stocks still had more than a few percentage points before reaching their consensus analyst price targets. If any fresh calls have been made they have been noted below.
Strategic investors often look for the stocks that they believe will generate “alpha” for above-market upside. It needs to be pointed out that September is historically a very weak month in the stock market. That could prove to be a headwind to some stronger stocks.
While formal analyst ratings may say “Buy” in their calls, those are the current opinions of each analyst and reporting firm mentioned. Those ratings may change at any time based on valuations and market conditions. These are not formal ratings or views issued Oggonomics. All decisions to buy, sell, hold or avoid any stocks or any investments are the responsibility of each investor and should be made with a financial advisor.
These have been shown in alphabetical order to avoid any ranking or preference. The 2024 gains (YTD) have also been included so investors have an idea of how much each stock has run up to this point.
Allstate Corp. (NYSE: ALL) +36% YTD
All-Time Stock Price: $191.00
Consensus Price Target: $203.81
- On September 3, TD Cowen (reiterated Buy) raised its target to $224 from $193.
- On August 15, Goldman Sachs (reiterated Buy) raised its target to $204 from $199.
The Cigna Group (NYSE: CI) +22% YTD
All-Time Stock Price: $365.50
Consensus Price Target: $397.35
- On August 21, JPMorgan reiterated its Overweight rating and raised its target to $438 from $435.
- On June 26, Piper Sandler started Cigna with a Buy rating and $400 price target.
Fiserv, Inc. (NYSE: FI) +31% YTD
All-Time Stock Price: $175.40
Consensus Price Target: $181.89
- On August 28, BTIG started Fiserv as Buy with a $200 price target.
- On August 20, JPMorgan (reiterated Overweight) and raised its target to $199 from $176.
KBR Inc. (NYSE: KBR) +22% YTD
All-Time Stock Price: $69.40
Consensus Price Target: $78.33
- On May 9, Stifel (reiterated Buy) and raised its target to $84 from $83.
Leidos Holdings Inc. (NYSE: LDOS) +44% YTD
All-Time Stock Price: $156
Consensus Price Target: $169.38
- On August 7, BofA (reiterated Buy) and raised its price objective to $165 from $160.
- On August 1, Wells Fargo (reiterated Overweight) raised its target to $172 from $168.
RLI Corp. (NYSE: RLI) +16% YTD
All-Time Stock Price: $154
Consensus Price Target: $166.25
- On July 29, Keefe Bruyette & Woods (reiterated Outperform) raised its target to $175 from $169.
SharkNinja Inc. (NYSE: SN) +86% YTD
All-Time Stock Price: $96.25
Consensus Price Target: $102.42
- On August 13, BofA (reiterated Buy) raised its price objective to $110 from $100.
S&P Global Inc. (NYSE: SPGI) +16% YTD
All-Time Stock Price: $514.00
Consensus Price Target: $544.75
- On August 12, Wells Fargo started S&P as Overweight with a $575 price target.
- On July 31, JPMorgan (reiterated Overweight) and raised its price target to $565 from $550.
UnitedHealth Group Inc. (NYSE: UNH) +14% YTD
All-Time Stock Price: $600.35
Consensus Price Target: $624.26
- On July 17, UBS (reiterated Buy) raised its price target to $680 from $640.
Walmart Inc. (NYSE: WMT) +46% YTD
All-Time Stock Price: $77.27
Consensus Price Target: $81.07
- On August 16, Telsey Advisory (reiterated Outperform) raised its target to $82 from $75.
- On July 10, Piper Sandler resumed coverage as Buy with a $81 price target.
Zeta Global Holdings Corp. (NYSE: ZETA) +190% YTD
All-Time Stock Price: $26.00
Consensus Price Target: $29.75
- On August 1, Craig-Hallum (reiterated Buy) raised its target to $32 from $22.
- On August 1, Truist (reiterated Buy) raised its target to $30 from $23.
- On August 1, RBC (reiterated Outperform) raised its target to $29 from $23.
