Even
as
the
Nasdaq
Composite
is
surging
to
new
highs,
investors
can
still
find
stocks
within
the
index
that
have
room
to
run.
The
tech-heavy
Nasdaq
rose
more
than
1%
to
reach
an
all-time
high
on
Friday.
Just
a
day
earlier,
it
closed
at
a
record
high
—
a
first
since
November
2021.
The
index,
which
has
climbed
as
megacap
tech
stocks
and
semiconductors
rally
amid
the
hype
over
artificial
intelligence,
was
the
last
of
the
three
major
averages
to
reach
a
record
close
this
year.
We
used
the
CNBC
Pro
Stock
Screener
tool
to
search
for
the
top
100
nonfinancial
companies
in
the
Nasdaq
and
found
names
such
as
AstraZeneca
and
Warner
Bros.
Discovery
that
could
make
a
comeback,
according
to
analysts.
These
stocks
have
a
consensus
buy
rating
from
analysts
and
have
an
upside
of
20%
or
more
from
their
average
price
targets.
Take
a
look
at
the
list
of
names
below
that
met
these
criteria:
Biotechnology
companies
AstraZeneca
and
Biogen
,
which
are
down
4%
and
14%
year
to
date,
respectively,
made
the
cut.
Analysts
have
a
consensus
buy
rating
on
both
stocks,
and
think
AstraZeneca
could
rally
more
than
26%,
while
Biogen
could
jump
roughly
40%.
Deutsche
Bank
downgraded
AstraZeneca
in
early
February
to
sell
from
hold,
citing
“underwhelming”
and
“soft”
fourth-quarter
earnings,
when
the
biopharma
missed
earnings
expectations.
AstraZeneca
had
said
it
expects
revenue
and
core
earnings
per
share
to
grow
by
double-digit
percentages
in
2024,
however.
Analysts
think
Biogen
also
has
further
momentum.
The
company
missed
the
Street’s
expectations
in
its
fourth
quarter,
however,
which
led
Wells
Fargo
to
downgrade
the
stock
to
equal
weight
from
overweight.
The
firm
noted
“too
many
uncertainties”
moving
forward
that
would
limit
the
stock’s
growth.
Moderna
,
another
health-care
name
that
made
the
list,
was
downgraded
by
HSBC
on
Monday
to
reduce
from
hold
on
hesitancies
about
the
company’s
Covid
vaccines
and
personalized
cancer
vaccine
program.
Twelve
out
of
25
analysts
covering
the
stock
rate
it
a
buy
or
strong
buy,
according
to
LSEG,
formerly
Refinitiv,
and
consensus
price
targets
suggest
35%
upside
from
here.
Outside
of
the
health-care
universe,
analysts
are
still
bullish
on
energy
company
Baker
Hughes
and
beaten-down
media
conglomerate
Warner
Bros.
Discovery,
expecting
the
stocks
could
rally
more
than
36%
and
53%,
respectively.
Bank
of
America
last
month
reiterated
its
buy
rating
on
Baker
Hughes.
The
firm
slightly
lowered
its
price
target
on
the
stock
by
$1.50
to
$37.50.
Twenty-two
of
the
27
analysts
polled
by
LSEG
rate
the
stock
a
buy
or
strong
buy,
and
the
average
price
target
suggests
35%
upside
from
here.
“We
see
the
company
as
a
key
beneficiary
of
the
increased
focus
on
LNG
(equipment
&
services)
and
new
energy
/
CCS
while
continuing
to
generate
strong
FCF
and
returning
60-80%
of
it
to
shareholders,”
Bank
of
America
analyst
Saurabh
Pant
wrote
in
the
note.
