While August brought with it a pullback following the market’s strong performance so far this year, the past few sessions have seen momentum build again.
The good news, according to Andrew Slimmon, managing director and senior portfolio manager at Morgan Stanley Investment Management, is that the market’s advance is set to continue.
Boosted by the Q3 earnings season, Slimmon sees the S&P 500 nearing the 5,000 mark by the end of the year, which would not only represent an 11% increase from current levels, but would amount to a new record, beating the 4,818 notched at the start of 2022.
“Year-over-year quarterly earnings are going to inflect from negative to positive after Q3,” Slimmon has said. “Historically, this is greeted positively by equities.”
Meanwhile, the stock experts at Morgan Stanley also have an idea which stocks are going to do well against this positive backdrop. They are pointing investors toward a pair of equities they see positioned to meaningfully outperform – they see both generating returns of at least 60% in the months ahead.
To also get an idea for what the rest of the Street has in mind for these names, we ran these tickers through the TipRanks database – a platform that tracks and measures the performance of anyone giving financial advice online. Here’s what we found.
Despegar.com Corporation (DESP)
To get started, we’ll look at one of Latin America’s most experienced travel agencies. Despegar.com is recognized across the region, and recommended by satisfied travelers. The company operates in 20 countries, providing a full range of travel services and products, including airline tickets, travel packages, hotels, vacation rentals, and more. Despegar has served more than 17 million customers as a one-stop marketplace for every traveler’s vacation planning.
Some numbers show the scale that Despegar operates on. The company can link travelers to more than 800 airlines, 1260 car rental agencies, 7,700 leisure activities, and 660,000 accommodations across Latin America. Services are offered under two brands, Despegar, the…