Some of this week’s winning stocks aren’t exactly the favorites of Wall Street pros. The summer rally lost its momentum in recent days, with the S&P 500 heading for its first losing week in five. However, there have been bright spots, most notably the Kroger grocery stock. The company’s shares were up 6% for the week as of Friday morning, paring gains for the year. Despite the solid performance for the week and the year, Kroger is not well-liked on Wall Street. According to FactSet, just 29% of analysts covering the company have a buy rating on the stock, and the average price target shows an upside of less than 9% from there. Kroger is not an outlier on this week’s list. Only three of the top 10 performers in the average through Thursday had buy ratings from more than half of their analysts. None had buy ratings above 60%. Source: FactSet Another stock he didn’t like on the list was hitting record highs this week. Shares of Progressive have enjoyed a strong run after the company reported its July financial results on Wednesday that showed an improving combined ratio, a key measure of profitability for insurers. According to Wall Street analysts, there are some names on the list that have a stronger foundation. Walmart and Keysight Technologies have buy ratings from more than half of analysts, but have projected an upside of less than 10% from here. Take Two Interactive was trading more than 24% below its average analyst price as of Friday morning, according to FactSet. However, the shares have been downgraded this month by Deutsche Bank and Bank of America.
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About the Author: Chaz Cutler
My name is Chasity. I love to follow the stock market and financial news!