PWM's Searing 89% Gain + 3 Strong Buy Stocks to Watch RN

We stalk the hottest stocks and analyst upgrades so you don't have to. Courtesy of our own Jessie Moore and Dan Simms, here's what's hot (and what's not) in the market today:

🔥 HOT: Shares of Gannet (NYSE: GCI) rose by 17.2% on Monday after the company announced a debt refinancing that would reduce its future dilution and allow the company to repay its current five-year loan. GCI has been in an uptrend for most of the year and has gained 150.0% since January 1st.

🥶 NOT: Security system manufacturer Napco Security (NASDAQ: NSSC) beat its earnings estimates on Monday but lost 14.6% anyway. The company’s profit and revenue both increased compared to the same quarter of last year but apparently not enough to prevent investors from taking some profit. The company has had a strong year and has gained around 41% YTD even after Monday’s loss.

🔥 HOT: Prestige Wealth (NASDAQ: PWM) got a big boost on Monday after it announced that it would purchase 100% of SPW Global’s shares in an acquisition deal. The market responded with a buying surge that left PWM up 89.7% at the close. The news came at the right time for Prestige. Shares of PWM are still down 31.9% this year, even after the gain.

🥶 NOT: Chinese retail company PDD Holdings (NASDAQ: PDD) lost 28.5% on Monday despite showing solid revenue growth year-over-year. The company’s quarterly revenue grew 86% from last year to reach $13.4 billion, but analysts predicted that its quarterly revenue would come in around $13.8 billion. PDD has been trading flat this year so far, and Monday’s loss has left it down 30.5% YTD.

Strong Buys: Top Picks from Top Wall Street Analysts 

How good is the analyst behind that Strong Buy rating? With WallStreetZen's Top Analysts, you can see every analyst’s track record, average win size, and even access some of their best trades. It’s a premium feature on our site, but we’ve unlocked a FREE sampling below: 

1- Civitas Resources Inc. (NYSE: CIVI)

Analyst/Firm: Neal Dingmann / Truist Securities

Analyst ranking: Top 2% / average return +10.45% / win rate 56%   

Current price: Click here

Price target: $101.00

• Maintaining a Strong Buy rating, Truist Securities's Neal Dingmann raised their price target on Civitas Resources (NYSE: CIVI) by 1% from $100 to $101 on 8/21. Here’s why:
• Dingmann reported that the catalyst for their price target adjustment was takeaways from meetings that supported Truist Securities' thesis that "Civitas Resources is one of the least expensive ways to play the Permian with a DJ kicker."
• Looking ahead, the analyst said they expect no change to the company's operational efficiencies and incrementally enhanced inventory and predicted that Civitas Resources "will produce one of the highest 2025 free cash flow yields in the group."

1-year chart for CIVI, courtesy TradingView

2- Vistra Corp. (NYSE: VST)

Analyst/Firm: Stephen Byrd / Morgan Stanley

Analyst ranking: Top 3% / average return +6.1% / win rate 51% 

Current price: Click here

Price target: $110.00 

• Maintaining a Strong Buy rating, Morgan Stanley's Stephen Byrd raised their price target on Vistra (NYSE: VST) by 0.9% from $109 to $110 on 8/23.
• Noting that Utilities names outperformed the S&P's +1.22% gain by 560 bps in 7/2024, Byrd noted that Vistra's "strong and stable free cash flow is underappreciated at the stock's current price."
• See what other top-rated analysts have to say about VST.

1-year chart for VST, courtesy TradingView

3- Opera Ltd. (NASDAQ: OPRA) 

Analyst/Firm: Lee Krowl / B. Riley Securities

Analyst ranking: Top 4% / average return +258.8% / win rate 62% 

Current price: Click here

Price target: $24.00 

• Maintaining a Strong Buy rating, B. Riley Securities's Lee Krowl raised their price target on Opera (NASDAQ: OPRA) by 9.1% from $22 to $24 on 8/23. 
• In an assessment of Opera's 8/22-dated Q2 2024 earnings report, Krowl highlighted that the company's top-line outperformance was driven by stronger monetization that exceeded expectations.
• Management's FY 2024 guidance was raised, and its commentary indicates the company is expected to maintain its "healthy performance," the analyst added. 
• Krowl predicted a beneficial impact on user experience, engagement, and monetization from recent and planned product enhancements, such as improvements to browsers and AI features.
• See more OPRA forecasts here.

1-year chart for OPRA, courtesy TradingView

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