The year is winding down, and it’s time for Wall Street’s analysts to flag their top picks for the coming year. It’s a time-honored tradition, in most walks of life, to take a sometimes tongue-in-cheek look at what lies ahead, and to start giving advice on the say-so of a metaphorical crystal ball.
Analysts have been analyzing each stock carefully, looking at its past and current performance, its trends on a variety of time frames, management’s plans – the analysts take everything into account. Their recommendations provide valuable direction for building a resilient portfolio in the new year.
So, we’ve used the TipRanks platform to pull up details on three stocks that the Street’s analysts have tapped as Top Picks for 2022. Are these the right stocks for your portfolio this New Year’s? Let’s take a closer look.
Vintage Wine Estates (VWE)
We’ll start in the wine business, with Vintage Wine Estates. This company owns a wide range of brands – mostly wines, but also spirits – along with vineyards and wineries on the West Coast of the US. The company’s holdings include wineries in Washington State and Oregon, and in some of California’s best wine regions, Napa and Sonoma.
Vintage has been around for over 20 years, and is involved in all aspects of the wine business, from growing and harvesting the grapes to bottling and marketing the final product. Vintage has grown to become one of the top 15 wine makers in the US, and sales exceed 2 million nine-liter equivalent cases every year.
Building on its strong market position, Vintage went public this year through a SPAC transaction. The SPAC merger, with Bespoke Capital Acquisition Corporation, was approved on May 28 and the new VWE ticker started trading on the NASDAQ on June 8. Vintage received a total of $306 million in new capital from the SPAC merger and has a current market cap of $665 million.
Vintage closed out the first quarter of its 2022 fiscal year on September 30, and results for that quarter showed gains in some important metrics. Net earnings per share came in at 5 cents, up from the…