S&P 500   5,137.08
DOW   39,087.38
QQQ   445.61
Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
A US appeals court ruling could allow mine development on Oak Flat, land sacred to Apaches
Peace, music and memories: As the 1960s fade, historians scramble to capture Woodstock's voices
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
In Senegal's capital, Nicaragua is a hot ticket among travel agents as migrants try to reach US
California authorizes expansion of Waymo's driverless car services to LA, SF peninsula
Critical asset just had biggest fall on record (Ad)
Norway's hospitalized king gets a pacemaker in Malaysia after falling ill during vacation
College athletes will need school approval for NIL deals under bill passed by Utah Legislature
S&P 500   5,137.08
DOW   39,087.38
QQQ   445.61
Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
A US appeals court ruling could allow mine development on Oak Flat, land sacred to Apaches
Peace, music and memories: As the 1960s fade, historians scramble to capture Woodstock's voices
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
In Senegal's capital, Nicaragua is a hot ticket among travel agents as migrants try to reach US
California authorizes expansion of Waymo's driverless car services to LA, SF peninsula
Critical asset just had biggest fall on record (Ad)
Norway's hospitalized king gets a pacemaker in Malaysia after falling ill during vacation
College athletes will need school approval for NIL deals under bill passed by Utah Legislature
S&P 500   5,137.08
DOW   39,087.38
QQQ   445.61
Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
A US appeals court ruling could allow mine development on Oak Flat, land sacred to Apaches
Peace, music and memories: As the 1960s fade, historians scramble to capture Woodstock's voices
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
In Senegal's capital, Nicaragua is a hot ticket among travel agents as migrants try to reach US
California authorizes expansion of Waymo's driverless car services to LA, SF peninsula
Critical asset just had biggest fall on record (Ad)
Norway's hospitalized king gets a pacemaker in Malaysia after falling ill during vacation
College athletes will need school approval for NIL deals under bill passed by Utah Legislature
S&P 500   5,137.08
DOW   39,087.38
QQQ   445.61
Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
A US appeals court ruling could allow mine development on Oak Flat, land sacred to Apaches
Peace, music and memories: As the 1960s fade, historians scramble to capture Woodstock's voices
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
In Senegal's capital, Nicaragua is a hot ticket among travel agents as migrants try to reach US
California authorizes expansion of Waymo's driverless car services to LA, SF peninsula
Critical asset just had biggest fall on record (Ad)
Norway's hospitalized king gets a pacemaker in Malaysia after falling ill during vacation
College athletes will need school approval for NIL deals under bill passed by Utah Legislature

Santa Rally comes early for these stocks

Christmas gift US dollar money cash background

Key Points

  • Boeing gets upgrades on strengthening order flow and outlook for deliveries. 
  • Crocs upgraded on value and business normalization and has a 45% upside outlook. 
  • nLIGHT upgraded on a new contract with the US Army and a chance for multiple sales to follow. 
  • 5 stocks we like better than Boeing

The Santa Claus Rally is a year-end rally that tends to occur in the last two weeks of the year, but a few stocks always get a holiday boost early. Santa has something in his bag this year for every investor, including dividend growth, buy-and-hold and speculators. The takeaway with all of these names is that analysts' sentiment is also improving and helping to lift their markets. 

Boeing gets upgrades; shares take flight

Boeing NYSE: BA struggled with traction early in 2023, but that situation has changed drastically. The aerospace giant continues to amass new orders and is gaining ground on competitor Airbus. The company reported 841 new orders through the end of October, and several new deals have emerged since then. This has the analyst raising their ratings and price targets, resulting in 3 fresh upgrades on Marketbeat’s radar. 

Deutsche Bank raised its rating to Buy from Hold, citing an outlook for improved cash flow as deliveries increase. Northcoast Research also upped the stock to Buy while RBC raised it rating to Outperform. Equally important, the price target increases have a consensus target of 15% above the recent action, trending higher. The latest targets add another 15%, enough to put the market at a two-year high. 

Blue chip Boeing does not currently pay a dividend but has been a solid payer in the past. The company’s business is normalizing, which could lead to a resumption in payments over the next year or two. 

Boeing Stock chart

Analysts take a bite out of Crocs, Inc.

Crocs, Inc. NASDAQ: CROX has suffered the same headwinds as any retail stock but performed remarkably well despite the hurdles. Now, the market is trading at a deep value of 8.2X this year’s earnings, with growth on the table. Growth is slowing and was weaker than expected in the last report but solid enough for analysts to maintain a bullish stance. Now, an upgrade is in the picture. 

Raymond James upgraded Crocs to Strong Buy with a target of $115. That is above the consensus rating of Moderate Buy and supportive of the consensus price target. The consensus target assumes a 45% upside, down 5% compared to last quarter but up 50% YOY. Shares of this stock are normalizing within a large range and confirming an uptrend within the range. 

Crox stock chart

nLIGHT, Inc. illuminates the night for Santa and his sleigh

nLIGHT, Inc. NASDAQ: LASR is a cutting-edge laser technology company with products in both the semiconductor and fiber laser segments. The company’s products are used in applications spanning sectors and industries, and was recently awarded a $35 million contract by the Army. The contract is for a test phase that could lead to multiple contract awards over the following 2 to 3 years and sustain growth for this micro-cap play. 

As it is, the testing contract led to two upgrades, one to Buy and one to Speculative Buy, with price targets 30% above the current action. Shares of this stock have confirmed bottom at the low end of a trading range and are heading higher. A move to the $17.50 consensus indicated by Benchmark and Needham would take the market to a new high.

nLIGHT stock chart

Smith+Nephew, the bottom is in for this Medtech

A rebound has been brewing for medtech stocks, and Smith+Nephew NYSE: SSN is in the mix. The latest results show YOY growth and sequential stability, with the dividend in reliable shape and the analysts raising their ratings and price targets. The analysts have issued a steady string of upgrades this year to lift the consensus to Moderate Buy from Hold with a price target about 12% above recent action. 

Growth for this company is supported by international expansion, which is still in its earliest phases. Shares of this stock are confirming a bottom and may cross a critical pivot soon. That point is near a long-term EMA and a low set in 2021 that may provide stiff resistance. A move up to the $32 level is likely if the market can get above this level. 

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Should you invest $1,000 in Boeing right now?

Before you consider Boeing, you'll want to hear this.

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Smith & Nephew (SNN)
1.8975 of 5 stars
$26.42-0.3%2.12%N/AModerate BuyN/A
nLIGHT (LASR)
1.2653 of 5 stars
$13.04-1.4%N/A-14.49Moderate Buy$14.67
Crocs (CROX)
3.7939 of 5 stars
$124.81+2.1%N/A9.74Buy$139.78
Boeing (BA)
4.4928 of 5 stars
$200.00-1.8%N/A-54.35Moderate Buy$252.63
Compare These Stocks  Add These Stocks to My Watchlist 

Thomas Hughes

About Thomas Hughes

  • tmhughes.writeon@gmail.com

Contributing Author

Technical and Fundamental Analysis

Experience

Thomas Hughes has been a contributing writer for MarketBeat since 2019.

Areas of Expertise

Technical analysis, the S&P 500; retail, consumer, consumer staples, dividends, high-yield, small caps, technology, economic data, oil, cryptocurrencies

Education

Associate of Arts in Culinary Technology

Past Experience

Market watcher, trader and investor for numerous websites. Founded Passive Market Intelligence LLC to provide market research insights. 


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