The Wall Street firms that we cover here at 24/7 Wall St. all keep a list for their institutional and retail clients of high-conviction stock picks. These are generally the stocks they not only like on a longer-term basis but those that usually have big upside to the assigned target price. With the first quarter winding down, many firms on Wall Street have tweaked their lists to account for potential changes for the second quarter and the balance of 2022.
Analysts at Raymond James who contribute to the firm’s well-respected Analysts Current Favorites list have to provide one of the stocks in their coverage space for inclusion in the list. Hence, it is considered the favorite choice.
We screened the list looking for stocks that are not overextended or overbought and companies that pay solid and dependable dividends to shareholders. We were also interested in companies likely to benefit from the current macro environment of rising interest rates and strong commodity pricing.
The following eight stocks look like very good ideas for growth and income investors looking to reset portfolios for the rest of the year. While they have Raymond James highest Strong Buy rating, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
This company was long considered an industry leader when it was known as Apache, and the stock is perhaps offering one of the best entry points in the sector, despite Warren Buffet’s massive recent purchases. APA Corp. (NYSE: APA) explores for and produces oil and gas properties. It has operations in the United States, Egypt and the United Kingdom, as well as has exploration activities offshore Suriname. It also operates gathering, processing and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.
The company is one of the largest U.S. exploration and production companies, with 2.3 billion barrels of oil equivalent of proven reserves (63% liquids). It is an explorer, acquirer and exploiter a fiscally conservative company that has grown its reserves and production consistently via acquisitions and organic projects.
Shareholders receive a 1.36% dividend. The Raymond James price target for APA stock is $59, and the consensus is much lower at $43.21. The last trade for Thursday came in at $40.78 a share.
This is a solid value buy in the health care sector. Cigna Corp. (NYSE: CI) is a major health services organization that provides insurance and related products and services in the United States and internationally. All products and services are provided exclusively by or through operating subsidiaries of Cigna, including Cigna Health and Life Insurance Company, Life Insurance Company of North America, Cigna Life Insurance Company of Canada and their affiliates.