The performance measurement platform, TipRanks releases a list of firms in the United States (US) that are the choice of Wall Street's leading analysts in making long-term investments.
It was detailed that Wall Street analysts positioned the firms as the best long-term investment options given that the previous profit rally had stalled early.
Here are some firms selected by analysts.
IonQ Inc
This computer technology firm was chosen by analyst Quinn Boltan based on an encouraging 2nd quarter (Q2) report.
Commenting on Boltan, the company's strong balance sheet will give an advantage and be a positive cash flow generator without the need to raise additional capital.
Among IonQ's best achievements during Q2 was the launch of the 32-qubit quantum computer, Aria in addition to getting several important contracts including reporting strong guidance for the full year.
On those factors Bolton puts the status of 'buy' with a price target (TP) at $9, besides 8,000 analysts bet a 73% success rate on IonQ according to TipRanks.
GlobalFoundries
Deutsche Bank analyst Ross Seymore maintains a 'buy' status on the largest US microchip manufacturer after it beat its Q2 target.
Explained Seymore, the company adds long-term agreements, expands its sole source business, rapid growth in unit volume and low capital risk are the core of its confidence.
As a result, Seymore is seen increasing TP to $65 from $60, and TipRanks shows as many as 8,000 analysts targeting an 80% success rate.
Walmart
The US retail giant's Q2 results, which are seen to be able to withstand the pressure of the uncertain market conditions, captured the heart of analyst Peter Benedict.
Operational improvements, continued scaling of alternative revenue streams and the company's innovative growth strategy successfully kept Benedict's TP at $140.
Also stated by analysts the company's inventory is seen to be in a positive position with price increase plans for Q3 will continue to support Walmart across the 2nd half of the year.
In bulk, 8,000 analysts project a 71% success rate on Walmart for the rest of the year.
Home Depot
Another retail giant of Benedict's choice reported unexpected Q2 results along with Walmart.
The basis of Benedict's confidence in the company is based on an unchanged management outlook, reflecting the possibility that it is protected from any significant changes in demand.
Additionally, the company's strategic investment in store redesign is able to enhance its ecosystem of capabilities in delivering a smoother shopping experience.
Overall, the $360 TP on the company is up from $335 by Benedict.
