Gama Gana: Wall Street analysts love these emerging market stocks that trade in U.S.

Kamis, 30 Maret 2023

Wall Street analysts love these emerging market stocks that trade in U.S. - CNBC

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While U.S. and European investors continue to navigate a banking crisis, high inflation and slower earnings growth, several emerging markets stocks beloved by Wall Street analysts are expected to surge higher. Emerging markets equities had an optimistic start to the year as China reopened its economy and as high inflation showed signs of easing. In 2023, the iShares MSCI Emerging Markets ETF (EEM) is up 4.4% through Thursday's open. That's below the 5.5% gain in the S & P 500, but outstrips the Dow Jones Industrial Average's more than 1% decline. Many investors expect emerging markets equities are better positioned following a dismal two years, especially now that the dollar has weakened and the Street forecasts the Federal Reserve will soon stop hiking rates and may lower them by year-end. In 2022, the MSCI EM ETF tumbled 22%, while in 2021, it fell 5%. In fact, some emerging markets stocks that are also listed in the U.S. could be due for huge upside. These names are included in exchange-traded funds such as the iShares MSCI Emerging Markets ETF, Vanguard FTSE Emerging Markets ETF, iShares Core MSCI Emerging Markets ETF, the Schwab Emerging Markets Equity ETF or the SPDR Portfolio Emerging Markets ETF. They're also listed on the NYSE or Nasdaq and covered by at least 10 analysts. The group is also beloved by a majority of analysts and have roughly 20% or more upside to their average price targets. Here are their names. Credicorp shares made the list. The financial services company is based in Peru but also operates in Colombia, Bolivia and elsewhere. The stock has a buy rating from 60% of analysts and is expected to jump 25% to its average price target. Also prominent are U.S.-listed shares of Dada Nexus , a local on-demand retail and delivery firm in China. The delivery stock is set to more than double to its average price target and has buy-equivalent investment ratings from 93% of analysts who cover it. Legend Biotech is a cell therapy company developing treatments for multiple myeloma, a type of blood cancer. The firm has operations in China and the U.S., as well as a collaboration agreement with Janssen Biotech. Not only is it considered a buying opportunity by 84% of the analysts covering the stock, it's expected to rise more than 50% to its average price target. Brazil-based Nu Holdings provides a digital banking platform. It's expected to rise 55% to its average price target. Other stocks that surfaced in this screen include the U.S.-listed shares of PDD Holdings and JOYY .

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Wall Street analysts love these emerging market stocks that trade in U.S. - CNBC
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Wall Street analysts love these emerging market stocks that trade in U.S. - CNBC

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