All of these factors led to a downturn in the stock market in Q2, but the market might be poised for a comeback, according to the Chief U.S. Market Strategist Dave Sekera, who shared his views in a Morningstar interview on July 19. As a result of the possibility of a market recovery, Finbold has conducted an in-depth analysis of three of the stock picks recommended by the Morningstar analyst for the third quarter of 2022.
Meta (NASDAQ: META)
In the last month, META has been trading in the $154.25 – $176.49 range, which is quite wide. Although, according to Sekera, the company is trading at half of what it is worth currently. He explained: TipRanks analysts rate the share as a moderate buy, predicting that in the next 12 months, the average price could reach $263.56, which is 49.94% higher than the current trading price of $175.78.
The Walt Disney Company (NYSE: DIS)
Disney has recently shifted its content to its own online streaming platform, which could have caused a short-term disruption in the value of the stock. Sekera stated: In the last month, DIS has been trading in the $90.23 – $100.40 range, a quite wide range. The support zone has formed from $94.34 to $95.33, while the resistance zone settled in the range from $99.62 to $100.74. Meanwhile, analysts rate the stock a ‘moderate buy,’ predicting that in the next 12 months, the average price could reach $139.22, which is 39.77% higher than the current price of $99.61. Even though Q2 was quite volatile, there seems to be quite a few noteworthy stocks investors could consider in Q3. As Dave Sekera points out, the above-mentioned stocks are currently all undervalued, and as a result, it may be an appropriate moment for investors to increase their equity exposures. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
