Bullish Bets: 3 Stocks Getting the Green Light From Wall Street

Company Performance - Elevance Health reported a revenue growth of 0.9% in Q1 2024, with adjusted EPS increasing by 12.5%. The operating margin grew by 7.52%, and return on equity (ROE) increased by 15.95%. Bank of America subsequently upgraded its price target to $646 per share [2] - Colliers International has a growth estimate of 28.60% for the next quarter, significantly higher than the S&P 500 index's 10.20%. Of eight analysts, seven recommended buying, with an average price target of $140 per share, indicating a potential upside of around 28% [7] - Elevance Health's price-to-earnings ratio stands at 20.3x, below the S&P 500 benchmark of 27.9x. Analysts favor this stock, with 19 of 22 covering analysts recommending it as a buy, and an average price target of $609.25 per share, suggesting a potential upside of approximately 13.4% [9] - US Foods has seen price target upgrades from four analysts, with an average target now at $64.56 per share, representing a potential upside of 24% from current levels [11] Industry Insights - The real estate market is expected to strengthen due to ongoing lower interest rates globally, prompting analysts to upgrade Colliers [3] - The food distribution industry, represented by US Foods, is anticipated to benefit from increased food demand driven by record tourism and a projected 6.3% year-over-year increase in airline passengers to the U.S. from June to August [17]