This week will bring the tail end of earnings season with retailers including Walmart (WMT), Home Depot (HD) and Lowe’s (LOW) reporting results. Inflationary pressures are prompting some companies to raise their prices, we may find out this week if these big-box retailers will follow suit.
Volatility is back, as is apparent in the options market where traders are increasing their bets for more choppiness ahead. Spiking volatility can be unnerving for some investors, but volatility can also be your friend. Sharp sell-offs — including the one we experienced this week and the more pronounced COVID-19-fueled markdown in March of last year — can also create opportunities to buy new stocks or add to existing positions. Our team spotted some of these potential opportunities and put together this list of a few stocks to keep an eye on this week as Q1 earnings season and economic data begin to wind down.
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Lynas Rare Earths (OTC: LYSCF)
The world is in desperate need for rare earth supply outside of China. Headquartered in Malaysia, Lynas Rare Earths (OTC: LYSCF) is only one of two companies in the world who have rare earth processing capacity that is not located in China. Other companies are looking at significant investments to build more global processing capacity, but this will take time and hundreds of millions (if not billions) of dollars, never mind that ore supplies that are currently under contract to be processed in China. Lynas also recognizes this and has announced construction of an additional rare earths processing centre in western Australia.
The company has a partnership with private Blue Line Corp. to develop rare-earths processing plants in Texas because we can’t be independent if we’ve got to send our rare earths to China for processing. The joint venture has been chosen to receive funding by the Pentagon from the DPA to the tune of $30.4 million to “build a Texas facility to process specialized minerals used to make weapons, electronics, and other goods,” as reported by Reuters.
As you can see, LYSCF has shares that trade on the U.S. OTC markets. Of six analysts offering recommendations for the stock, three rate it a Buy, 1 calls it a Hold and 2 have a Sell rating for the stock. An average analyst price target of $6.19 implies an upside of more than 40%.
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Stryker’s (SYK) medical devices range from implants used in joint replacements and spinal surgeries to surgical equipment and navigation systems.
New-patient demand was in question as long as COVID-19 infection rates were high, but as the vaccine rollout broadens, infection rates in the U.S. are receding and the rate of elective procedures has started to accelerate.
Robotic surgery has been rapidly gaining traction, owing to the precision that it offered. Notably, the global surgical robotics market is expected to witness a CAGR of about 21% during 2021 to 2026, per a report by Express Market Research. However, because of the pandemic, the usage of robots in other areas of healthcare also increased as they are being used to maintain social distancing while ensuring continued interaction between doctors and patients. Strong markets include the U.S., Australia, Germany, Canada, and especially China.
Based on 29 analysts offering recommendations, 12 rate the stock a Strong Buy. There are 3 Moderate Buy ratings, 12 Hold ratings, and 2 analysts rate the stock a Sell. Analysts at Canaccord Genuity chime in with a Buy rating and say Stryker should be a “core position for growth-oriented investors.” With an average price target of $274, the upside implications justify a closer look at the stock.
Analysts at Canaccord Genuity say Stryker should be a “core position for growth-oriented investors.”
Vroom, Inc. (VRM)
Vroom, Inc. (VRM) operates an e-commerce platform for buying, selling and trading-in used cars online. Vroom made its debut in the midst of the pandemic, and with a strong e-commerce presence, it was grossly unprepared for the avalanche of new orders. Ultimately, the company had to forgo potential revenue due to a lack of inventory to meet demand. This led to a drop in its sales numbers and stock price as a result. However, looking ahead, analysts believe that Vroom is poised for gains as consumers turn to used cars as the global cip shortage crimps production of new vehicles. Of 14 analysts offering recommendations for VRM, 11 rate the stock a Buy, compared to 3 Hold ratings and only 1 Sell rating. With more inventory on hand and strong digital demand, this company is one of the best growth stocks to buy on the dip.
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