The jobs market remains robust, and after hitting heights not seen during the last 40 years, it looks like inflation is cooling down. At the same time, there are still concerns a recession is on the way while the geopolitical landscape remains uncertain.
However, weighing the positives against the negatives, Oppenheimer’s Chief Investment Strategist John Stoltzfus believes the economy’s display of strength spells good news for the stock market.
“From our perch on the market radar screen the potential for things to get better even as uncertainty and risk persist on the landscape continues,” Stoltzfus recently said. “The resilience reflected in the economy in our view points to the potential for stocks to persist climbing the proverbial ‘wall of worry’ if not in a straight line higher.”
That will be music to investors’ ears, especially for those wondering where the best place is to park some cash right now. As it happens, Stoltzfus’ analyst colleagues at Oppenheimer have some ideas about that. They pinpointed two stocks they think are primed to push ahead – by the order of 30% or more over the following months.
We opened the TipRanks database to find out what the rest of the Street has to say about these names. Turns out there’s widespread agreement here; the analyst consensus rates both as Strong Buys. Let’s find out what makes them so.
RxSight, Inc. (RXST)
The first Oppenheimer-backed stock we’ll look at is an ophthalmic medical device company that has notched a big achievement. RxSight has developed and commercialized the world’s first adjustable intraocular lens (IOL) that allows for customization following cataract surgery. The FDA-approved proprietary RxSight Light Adjustable Lens system includes the Light Adjustable Lens (LAL) and the Light Delivery Device (LDD).
How does the RxSight system work, then? The LAL is implanted using a typical cataract process, refractive error is determined with patient input when healing is complete, and the LAL is then reshaped using the LDD with the precise amount of visual correction required to…
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