Some stocks that led the market recovery from the sharp sell-off in early August are poised for further gains in the coming days. Stocks are on stronger ground than they were after the intense sell-off on August 5. All three major indexes have recouped their losses. The S&P 500 rose about 2% in August, while the 30-stock Dow Jones Industrial Average and Nasdaq Composite Index rose about 1% each. But after this wild run, it’s worth considering where stocks might go next. CNBC Pro combed FactSet data to find stocks that could stand out in the market recovery and have room for further gains. To find potential stocks, the combo looked for the following criteria: Stocks on the list have made a new 52-week high since August 5; They have a buy rating from at least 55% of analysts covering the stock; The stock is up about 64% in 2024, and about 19% in August alone. It hit a 52-week high of $972.53 on August 22. Analysts remain bullish that the stock could rise further, with about 67% of analysts surveyed by FactSet maintaining their buy recommendation, and the average forecast suggests an increase of more than 6%. Eli Lilly shares on the mountain LLY YTD. Shares rose slightly on Tuesday following news that Eli Lilly will launch a cheaper version of Zepbound for patients who don’t have health insurance for the weight-loss drug. Walmart also got cut. The stock has risen more than 45% this year, with an 11% increase in August alone. On Tuesday, the retailer hit a record high of $76.45 per share. Walmart also raised its full-year sales growth forecast to a range of 3.75% to 4.75%. The company had previously expected growth of 3% to 4%. Walmart shares on the mountain WMT YTD. More than 69% of analysts surveyed by FactSet maintained their buy rating on Walmart shares, with the average target price suggesting an increase of 6%. Other stocks on the list that posted sharp recoveries include insurance company Progressive and retailer Ross Stores.
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