The last few days’ trading have been enough to make our heads spin. Markets have shifted up and down, showing both volatility and a short-term upward trend, a pattern that has investors wondering if this is the start of a sustained run of gains, or just a bear-market rally.
Stiffel Chief Equity Strategist Barry Bannister believes that there’s less reason for fear and lays out a strong case for upside.
“We forecast the S&P 500 up to 4,200 in 3Q22E and recommend Cyclical Growth groups… for a relief rally. We see a decline for oil, inflation and rate futures as well as avoidance of significant 2H22 S&P 500 EPS concerns supporting a P/E ratio-led rally in advance of our view that the Federal Reserve slows rate hikes and pauses rates by late-2022. Recession fear is over-done, and we see no U.S. recession in 6-9 months,” Bannister opined.
Whether Bannister is right or wrong, one thing is certain: investors have a chance to get in at discount prices. Plenty of sound stocks are trading at prices too cheap to ignore.
We’ve used TipRanks’ platform to pull up the latest scoop on two such stocks; both are ‘Strong Buy’ stocks with recent positive reviews from the Street and plenty of upside potential. Here’s a closer look, alongside the analyst commentary.
Offerpad Solutions (OPAD)
We’ll start in the real estate sector, where Offerpad offers buyers and sellers an online real estate sales platform. The company makes it easy for property owners to connect directly with prospective buyers, and also makes it easy for sellers to list their homes and buyers to find the perfect purchase. The platform can host photos, a virtual walkthrough tour of the house, and facilitate offers and closing transactions.
The economic slowdown this year has been broad-based, however, and has affected the real estate sector, too. One result: Offerpad’s shares are down 64% so far this year even as the company has swung into profitability and expanded its footprint in the US home sales market.
Just in June of this year, Offerpad expanded its service footprint in the states of…