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5 stocks in the spotlight last week: Wall Street's most accurate analysts weigh in

Applied Materials sign in front of office building in California
Applied Materials sign in front of office building in California

U.S. stocks settled lower on Friday, with the Dow Jones index dipping more than 400 points during the session. Major stock benchmarks also recorded weekly losses, with the S&P 500 falling 1.6% and the Nasdaq dipping 2.9%. The Dow also declined 0.9% last week. Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even...

U.S. stocks settled lower on Friday, with the Dow Jones index dipping more than 400 points during the session.

Major stock benchmarks also recorded weekly losses, with the S&P 500 falling 1.6% and the Nasdaq dipping 2.9%. The Dow also declined 0.9% last week.

Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst’s opinion to trust.

Benzinga’s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.

Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the Analyst Stock Ratings page. One of the ways traders can sort through Benzinga’s extensive database of analyst ratings is by analyst accuracy. Here’s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga Analyst Stock Ratings.

Analyst: Aaron Rakers

  • Analyst Firm: Wells Fargo
  • Ratings Accuracy: 89%
  • Latest Rating: Maintained an Overweight rating on Arista Networks Inc ANET and boosted the price target from $185 to $200 on July 16. This analyst sees around 19% upside in the stock.
  • Recent News: Arista said it will announce second-quarter financial results on Tuesday, Aug. 4. 

Analyst: Timothy Arcuri

  • Analyst Firm: UBS
  • Ratings Accuracy: 89%
  • Latest Rating: Maintained a Buy rating on Applied Materials Inc AMAT and raised the price target from $570 to $705 on July 15. This analyst sees around 35% upside in the stock.
  • Recent News: On June 16, EssilorLuxottica and Applied Materials announced a long-term joint development agreement to advance augmented reality optics platforms for next-generation smart glasses.

Analyst: Josh Sullivan

  • Analyst Firm:  Jones Trading
  • Ratings Accuracy: 87%
  • Latest Rating: Initiated coverage on Lantronix Inc LTRX with a Buy rating and a price target of $12 on July 15. This analyst expects around 129% gain in the stock.
  • Recent News: On July 7, Vecima agreed to sell mobile and fixed-asset tracking business to Lantronix.

Analyst: Srini Pajjuri

  • Analyst Firm: RBC Capital
  • Ratings Accuracy: 87%
  • Latest Rating: Maintained an Outperform rating on ASML Holding NV ASML and increased the price target from $2,000 to $2,100 on July 16. This analyst expects around 21% surge in the stock.
  • Recent News: On July 15, ASML posted upbeat quarterly results.

Analyst: Kyle Menges

  • Analyst Firm: Citigroup
  • Ratings Accuracy: 84%
  • Latest Rating: Maintained a Buy rating on Alliance Laundry Holdings Inc ALH and raised the price target from $30 to $31 on July 14. This analyst sees around 22% gain in the stock.
  • Recent News: On June 2, Alliance Laundry named Bob Calver as COO International effective October 1 following retirement of Jan Vluegels on Sept. 30.

Photo via Shutterstock

This article 5 Stocks In The Spotlight Last Week: Wall Street's Most Accurate Analysts Weigh In originally appeared on Benzinga.com.

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