For Immediate Release
Chicago, IL – September 14, 2022 – Stocks in this week’s article are BJ's Wholesale Club Holdings, Inc. BJ, McKesson Corp. MCK and Carpenter Technology Corp. CRS.
3 Stocks with Upgraded Broker Ratings for Robust Returns
The operating environment has been tough for equity markets, given macroeconomic and geopolitical uncertainties. Therefore, it is difficult for investors to pick stocks independently and generate solid returns.
One way to choose the right stocks is to follow rating upgrades by brokers. In this regard, stocks like BJ's Wholesale Club Holdings, Inc., McKesson Corp. and Carpenter Technology Corp. are worth considering.
As brokers directly communicate with the top management, they have more insight into what is happening in a particular company. They diligently review companies’ publicly available documents and even attend conference calls.
Brokers have a deeper understanding of the overall sector and industry. They place company fundamentals against the current economic backdrop to determine how a particular stock will fare as an investment.
Hence, when brokers upgrade a stock, you can rely on their judgment. But solely depending on broker upgrades is not a good way to build your investment portfolio. Several other factors should be taken into consideration to ensure steady returns.
Here are the three stocks that qualified for the screening:
BJ's Wholesale Club, based in Westborough, MA, operates warehouse clubs on the east coast of the United States. BJ has emerged as one of the preferred destinations for shoppers regarding essentials and other items.
BJ's Wholesale Club’s fiscal 2023 earnings are projected to increase 10.7%. The company, sporting a Zacks Rank #1 at present, has witnessed a 7.7% upward revision in broker ratings over the past four weeks.
San Francisco, CA-based McKesson is a healthcare service and information technology company. MCK reports revenues through four segments — U.S. Pharmaceutical and Specialty Solutions, Internation, Medical-Surgical Solutions, and Prescription Technology Solutions.
The company’s earnings for 2022 are expected to rise 2.4%. McKesson, currently carrying a Zacks Rank #2, has witnessed an 8.3% upward revision in broker ratings over the past four weeks.
Carpenter Technology, headquartered in Philadelphia, PA, is a producer and distributor of premium specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools. CRS has two reportable segments — Specialty Alloys Operations and Performance Engineered Products.
Carpenter Technology’s 2022 earnings are projected to jump 222.6%. The company, carrying a Zacks Rank #2 at present, has witnessed a 25% upward revision in broker ratings over the past four weeks.
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For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/1979705/3-stocks-with-upgraded-broker-ratings-for-robust-returns
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McKesson Corporation (MCK) : Free Stock Analysis Report
BJ's Wholesale Club Holdings, Inc. (BJ) : Free Stock Analysis Report
Carpenter Technology Corporation (CRS) : Free Stock Analysis Report
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