3 Highly-Ranked Large Cap Stocks to Buy Now
Zacks Investment Research | Nov 09, 2020 04:13AM ET
On today’s episode of Full Court Finance at Zacks, we look at why the market jumped to new record highs. We then explore three large-cap Zacks Rank #1 (Strong Buy) stocks that investors might want to buy right now that don’t have to count on Pfizer’s vaccine progress.
Stocks posted their best week since April last week. The S&P 500, the Dow, and the Nasdaq all then surged to brand new record highs on Monday after Pfizer PFE and its partner BioNTech announced that their Covid-19 vaccine candidate is more than 90% effective in preventing infections.
Clearly, there are still unknowns and more hurdles to climb. Nonetheless, the news helped send social distancing stocks within travel and hospitality, such as Royal Caribbean (NYSE:RCL) Cruises RCL , soaring. This progress, along with the improving earnings picture, as well as Wall Street’s positive response to the prospects of divided government, could set up more bullish sentiment.
Despite the positive news, we take a look at three highly-ranked large cap stocks that are poised to grow and won’t need a vaccine to do so. We start with resurgent FedEx FDX , which posted blowout quarterly results in mid-September that highlighted its ability to thrive during the e-commerce age.
Next up is Nike (NYSE:NKE) AMZN age, as showcased by its digital sales growth the last two quarters.
Lastly, we dive into The Boston Beer (NYSE:SAM) Company KO , are trying to grab their share of the quickly growing pie.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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