5 Stocks to Watch: Week of 12/16/2024

By Jessie Moore, Stock Researcher and Writer
December 14, 2024 7:21 PM UTC
5 Stocks to Watch: Week of 12/16/2024

Forget Sunday Scaries … We’ve got 5 reasons to look forward to the week ahead. Not only does each stock selection below have the backing of Wall Street’s top analysts, but they all have excellent Zen Ratings, putting them in an echelon of stocks that have historically outperformed the market.

Today's list includes Teledyne Technologies (NYSE: TDY), a company with many avenues for continued growth; Procore Technologies Inc. (NYSE: PCOR), which just got a 23% price target increase, Build a Bear Workshop Inc. (NYSE: BBW), a company building success

one bespoke teddy bear at a time, M/I Homes (NYSE: MHO), which is also our Stock of the Week, and Boston Scientific Corp. (NYSE: BSX), which is on a run that we think could continue.

 1- Teledyne Technologies (NYSE: TDY)

Teledyne Technologies Incorporated is a real Renaissance man of a company, with offerings including control instruments for marine, environmental, and industrial applications, and electronic testing and measurement equipment. Exciting? Maybe not. Useful? Yes, and that could drive further growth…

Zen Rating: B (Buy): see full analysis > (link to quote page)

Recent Price: $475.05 — get current quote > 

Max 1-year forecast: $585.00

Why we’re watching:

  • Analyst support: Currently, TDY enjoys a Strong Buy consensus among the analysts we track.  
  • For example, Damian Karas of UBS recently assumed coverage on TDY with a Strong Buy rating. The analyst also raised their price target by 11.4% from $525 to $585. 
  • According to Karas, the stock is currently selling at a discount against peers and historical valuation, which the analyst attributed to slowing organic growth in 2023 and 2024 caused by short-cycle industrial weakness.
  • Ahead of its peers: With a 
  • High Zen Rating: With an overall Zen Rating of B, TDY is above average within its industry, ranking #12 on our list of Best Scientific & Technical Instrument Stocks.
  • Excellent Safety rating: Among the 7 component grades that play into the overall Zen Rating score, TDY earns an A for Safety, meaning it could hold appeal for risk-averse investors. (See all 7 Zen Component Grades here >)

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2- Procore Technologies Inc. (NYSE: PCOR

Sure, cloud-based, SaaS construction management might not sound that exciting, but here’s a player with a proven track record: Procore has been in the biz since 2002. With a robust suite of services including Design Coordination, BIM, Field Productivity, Project Financials, Invoice Management, Portfolio Financials, Capital Planning, Accounting Integrations, and Analytics functions, it has plenty of avenues to continue to grow.

Zen Rating: B (Buy): see full analysis > (link to quote page)

Recent Price: $78.82 — get current quote > 

Max 1-year forecast: $105.00

Why we’re watching:

  • Analyst support: Among the 18 analysts we track issuing ratings on the stock, PCOR enjoys a Strong Buy consensus.
  • Notably, David Hynes of Canaccord Genuity recently maintained a Strong Buy rating and increased their price target by 23.9% from $67 to $83 on 11/22, following the company’s 2024 Investor Day.
  • Hynes contextualized their price target hike by referencing the new capabilities Procore Technologies showcased at the event, the "greater insights" management offered into the company's growth levers and GTM transformation, and the several new long-term financial objectives outlined.
  • Impressive Zen Rating: With an above-average Zen Rating of B, PCOR is in the top 20% of the stocks we track. Of the 7 components that play into the score, PCOR earns a Value rating of A, indicating that the stock may be an excellent value for the current price. (See all 7 Zen Component Grades here >)

3- Build a Bear Workshop Inc. (NYSE: BBW

Build-A-Bear Workshop is just what it sounds like: A chain of retail stores that lets children customize teddy bears and stuffed animals tailored to their preferences. Traffic is up and business is booming — but those aren’t the only reasons we like the stock…

Zen Rating: B (Buy): see full analysis >  

Recent Price: $41.06 — get current quote > 

Max 1-year forecast: $58.00 

Why we’re watching:

  • Analyst support: BBW has a Strong Buy rating among 3 analysts we track issuing ratings. 
  • Notably, Michael Baker of DA Davidson recently raised their price target on BBW by 25% from $40 to $50 on 12/6, following the company’s earnings
  • Baker summarized the print by saying that the results beat consensus on most line items, and although management "tweaked its FY 2024 growth guidance down a bit", it still expects continued growth in Q4.
  • Looking ahead, the analyst predicted that "management's continued investments in store growth, brand campaigns, and strategic partnerships should support future growth."
  • Impressive Zen Rating: Retail is a tough industry, but BBW earns an overall Zen Rating of B, putting it in a class with stocks that have averaged +19.88% annual returns per year since 2003. Of the 7 components that play into the score, it has particularly high scores for Value and Financials. (See all 7 Zen Component Grades here >)

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4- M/I Homes (NYSE: MHO)

M/I Homes Incorporated is a residential home builder with a few different segments — two related directly to homebuilding, and one related to Financial Services. An established company since 1976, this company could be poised to benefit from future rate cuts.  

Zen Rating: A (Strong Buy): see full analysis >  

Recent Price: $151.87 — get current quote > 

Max 1-year forecast: $210.00

Why we’re watching:

  • It’s our Stock of the Week: MHO earns the coveted title of Stock of the Week from Zen Investor Editor in Chief Steve Reitmeister. Here are just a few highlights from his recent article:
  • “Housing stocks are very sensitive to interest rates as you might imagine. So, it makes a lot of sense to add a home builder like M/I Homes (MHO) to your portfolio as rates are set to head lower in the months ahead.”
  • Analyst support: Also giving MHO a hearty thumbs up? Buck Horne of Raymond James (top 12% of all analysts), who sees MHO fair value as $210 based on the current earnings outlook. However, that would only be 10X next year’s earnings when the average stock on the S&P 500 is trading at 23X earnings. 
  • Zen Ratings supports the pros. MHO earns an A (Strong Buy) rating according to the Zen Ratings model. Historically that has pointed to beating the S&P 500 by more than 3 to 1. 
  • Where MHO really shines is in the 3 Zen Rating component grades that have the most benefit for future stock outperformance: B for Financials, B for AI factors, and B for Value. (See all 7 Zen Component Grades here >)

5- Boston Scientific Corp. (NYSE: BSX

Zen Rating: B (Buy): see full analysis >  

Recent Price: $90.11 — get current quote > 

Max 1-year forecast: $110.00

Why we’re watching:

  • Analyst support: 19 analysts we track currently issue ratings on BSX — and it has a Strong Buy consensus
  • Notably,  Joanne Wuensch of Citigroup recently maintained a Strong Buy rating and raised their price target on BSX by 9.2% from $98 to $107 on 12/11. 
  • Wuensch explained that, for Boston Scientific, "next year's growth drivers should be a retelling of the 2024 story - continued expansion of Farapulse pulsed-field ablation and Watchman left atrial appendage closure adoption and penetration.
  • Exceptional stock within its industry: Not only does BSX rank as #11 of 123 in our list of the Top Medical Device Stocks, but it also earns a Zen Rating of B, meaning it has the potential to outperform the market. What’s behind that overall score? BSX has above-average component scores for Growth, Sentiment, Safety, and based on our proprietary AI factors. (See all 7 Zen Component Grades here >)

What to Do Next?

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