The markets have the tendency to overdramatize, and events are often blown out of proportion. With the stock market having experienced a pullback since the mid-summer peaks, there have been fears the bull market seen for most of the year is about to go up in smoke.
But that is not the case at all,” argues Matt Orton, Chief Market Strategist at Raymond James. Throughout the year, the markets have been “pushing back” against the Fed’s narrative that interest rates will need to stay elevated for an extended period. And what we’re seeing now, says Orton, is just a “process of normalization.
“What I’ve been reminding our clients is that we haven’t had a 5%-plus pullback since SVB (Silicon Valley Bank collapse) in early March of this year,” Orton expounded on the issue. “It’s been a really, really long uptrend for this market, and investors really should be opportunistic because the economy is still, I’d say, in good enough shape, and what we’re seeing is that there are a lot of opportunities for those who actually want to look and do their homework. Valuations are compelling in a lot of parts of the market.”
The analysts at Raymond James are running with that sentiment and have been busy pointing out those compelling equities primed for gains. Specifically, they have identified two names they consider as ‘Strong Buys,’ which they believe have up to 85% upside potential.
But it’s not only the Raymond James experts that are showing confidence in the pair. Checking in with the TipRanks database, we find the analyst consensus rates both as ‘Strong Buys’ as well. Let’s see why investors might want to consider loading up on these stocks right now.
Customers Bancorp (CUBI)
We’ll kick off with Customers Bancorp, a financial holding company that operates primarily through its subsidiary, Customers Bank. Calling itself a “super-community bank,” CUBI has over $22 billion in assets and is a full-service commercial bank catering to both individual and business customers.
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CUBI operates in Florida, Illinois, Massachusetts,…
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