x
The S&P 500 Index (SPX) produced a six-month gain of 45% from its 2020 closing bottom on March 23 through Sept. 23. Following that advance, the benchmark index rose another 8% through Oct. 14, with 90% of its components showing increases.
Sorting those 94 stocks by implied 12-month upside potential based on consensus price targets, it is clear the analysts expect downtrodden energy stocks to see the biggest bounce.
Among the 10 S&P 500 stocks rated “buy” by at least 75% of analysts that show the most “upside,” nine are energy names.
Until Election Day, and maybe for a few weeks afterward if voting results are disputed, expect warnings about stock market volatility. But history has shown the market tends to rally after elections.
