3 New Strong Buy Ratings from Top-Rated Analysts [11/26/2024]

There's a lot to watch in the market in advance of the Thanksgiving holiday.

Today's Strong Buys include Embraer (ERJ), which just got a healthy price target increase following a successful Investor Day event, Atlanticus Holdings (ATLC), which just announced better-than-expected earnings, and Elastic NV (ESTC), which is enjoying strong demand due to increased adoption of AI.

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1- Embraer SA (NYSE: ERJ) 

Analyst/Firm: Ronald Epstein / Bank of America

Analyst ranking:  Top 18% / average return +5.25% / win rate 56% 

Latest price: Click here

Price target: $55.00

• Maintaining a Strong Buy rating, Bank of America's Ronald Epstein raised their price target on Embraer SA (NYSE: ERJ) by 37.5% from $40 to $55 on 11/21.
• Epstein attributed their price target move to takeaways from Embraer SA's 2024 Investor Day, specifically, "stronger-than-expected deliveries and demand across segments."
• The analyst posited that the company's "greatest differentiating factor is how core being an engineering innovator is to its identity."
• Embraer SA's strong backlog, deliveries, and improving financial profile are "a testament to the strategy working," Epstein continued.
• See why ERJ has a Buy consensus among the analysts we track. 

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2- Atlanticus Holdings Inc. (NASDAQ: ATLC) 

Analyst/Firm: Steve Moss / B. Riley Securities

Analyst ranking:  Top 7% / average return +18.78% / win rate 55% 

Latest price: Click here

Price target: $70.00 

• Maintaining a Strong Buy rating, B. Riley Securities's Steve Moss raised their price target on Atlanticus Holdings (NASDAQ: ATLC) by 40% from $50 to $70 on 11/21, following the company’s Q3 earnings, reported earlier in the month.
• The company outperformed expectations in the quarter, Moss told investors.
• Management's increased guidance was based on Atlanticus Holdings' new relationship with Synchrony Financial, which could boost purchase volume and overall receivables' growth, the analyst added.
• Now that the company can access the financial markets again, Moss predicted a rise in float and market over the next 12 months to 24 months. 
• Will ATLC see 26% upside in the coming year? Here’s what the pros have to say.

Elastic NV (NYSE: ESTC) 

Analyst/Firm: Joel Fishbein / Truist Securities

Analyst ranking:  Top 7% / average return +13.85% / win rate 66% 

Latest price:

Price target: $135.00 

• Maintaining a Strong Buy rating, Truist Securities's Joel Fishbein raised their price target on Elastic Nv (NYSE: ESTC) by 28.6% from $105 to $135 on 11/22, following the company’s recent earnings report. 
• Fishbein said they hiked their price target on results beat expectations that Truist Securities had cut after Elastic NV lowered its revenue guidance last quarter.
• Looking ahead, the analyst told readers that management is now positive because of strong demand from search and AI use cases, as well as stronger-than-expected consumption from larger customers.
• See why 13 analysts call ESTC a Strong Buy.

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