An employee of the Internet company Facebook walks through the courtyard of the company campus in Menlo Park, California.
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When Wall Street analysts take a more bullish stance on a particular stock, it could mean that the name is undervalued and has room to run.
The stocks mentioned in this article have either received a bullish coverage initiation or a significant price target boost from analysts with a proven track record of success.
TipRanks’ analyst forecasting service works to pinpoint the Street’s best-performing analysts, or the pros with the highest success rate and average return per rating. These metrics factor in the number of ratings published by each analyst.
Wall Street’s best-performing analysts have turned more bullish on these five stocks.
According to Needham analyst Scott Berg, Thryv Holdings is “Thryv-ing in the hot marketing software space.” As such, the top analyst initiated coverage with a Buy rating and set a $42 price target. This implies that shares could gain 31% over the next 12 months.
“Thryv competes in the Marketing Software space, which on its own, can support significant long-term growth, we believe,” Berg said. He added, “Thryv’s long-term product strategy is rooted in the large segment for Marketing Software, which Gartner estimates had over $16 billion of total spend in 2019 growing at 20.7% per year.”
What makes the company an industry stand-out? The analyst points…