Hark back to the start of the year and few saw the markets recovering to the extent they have, particularly after 2022’s overall performance was the worst seen since 2008.
But here we are more than six months later and the S&P 500 and particularly the tech-loaded NASDAQ have completely exceeded expectations, with the surge built on investors’ appetite for everything AI.
But not all stocks have been riding the AI gravy train. Some have been excluded from the rally and have retreated during the year, although that doesn’t mean they are headed for the permanent bargain bin.
In fact, the analysts at banking giant Goldman Sachs have been performing one of their favorite pastimes – tagging the stocks that they see as primed for gains in the latter half of the year. Specifically, firm analyst Adam Samuelson has pinpointed an opportunity in two beaten-down names he sees pushing higher over the coming months – by the order of 40% or more.
We ran these tickers through the TipRanks database to see what other Street experts make of their chances. Here are the details.
The Mosaic Company (MOS)
Let’s begin in the agricultural sector and zoom in on The Mosaic Company. This heavyweight in the crop nutrient industry has earned its reputation as a leading global producer and marketer of concentrated phosphate and potash fertilizers. The Tampa, Florida-based firm focuses on mining and processing phosphate rock, which is then used to produce agricultural fertilizers, and potash, a vital nutrient for crops. The company’s products are essential in promoting crop productivity and improving soil fertility, thereby supporting the global agricultural industry.
Early last year, fertilizer prices increased dramatically in the wake of Russia’s invasion of Ukraine and subsequent Western sanctions on Russia and Belarus led to supply issues. However, as supply from Belarus started again – it is the third biggest exporter of potash – fertilizer prices also came down and that affected Mosaic’s latest quarterly results.
In Q1, adj. EPS fell from $2.41 in the same…