Zacks.com featured highlights include The Kroger, Expedia Group and Ralph Lauren
For Immediate Release
Chicago, IL – February 17, 2023 – Stocks in this week’s article are The Kroger Co. KR, Expedia Group, Inc. EXPE and Ralph Lauren Corp. RL.
Upgraded Broker Ratings Make These 3 Stocks Worth Buying in 2023
The year 2023 started on a positive note as the Federal Reserve's ultra-aggressive monetary tightening resulted in the cooling down of inflation. But to think the macroeconomic concerns have faded is wrong. The central bank is expected to keep interest rates high til inflation comes down reasonably.
This has made investors cautious, as higher rates will likely lead to a recession/economic slowdown this year. The bearish sentiments are leading to huge market volatility, making it difficult for individual investors to pick stocks independently and generate solid returns. One way to choose the right stocks in the current situation is to follow rating upgrades by brokers. In this regard, stocks like The Kroger Co., Expedia Group, Inc. and Ralph Lauren Corp. are worth a look.
As brokers directly communicate with the top management, they have a deeper understanding of what is happening in a particular company. They precisely assess companies' publicly available documents and even attend conference calls.
Brokers have an extra understanding of the overall sector and industry. They place company fundamentals against the current economic backdrop to determine how a particular stock will fare as an investment.
So, when brokers upgrade a stock, you can rely on their judgment. But solely depending on broker upgrades is not a good way to build your investment portfolio. Several other factors should be taken into consideration to ensure steady returns.
Here are three stocks that qualified for the screening:
Cincinnati, OH-based Kroger operates supermarkets under banners including Kroger, City Market, Dillons, Food 4 Less, Fred Meyer, Fry's, Harris Teeter, Jay C, King Soopers, Mariano's, Pick 'n Save, QFC, Ralphs and Smith's. Further, KR manufactures and processes certain food products sold in its supermarkets.
The company's earnings for fiscal 2024 are expected to increase 1.9%. Kroger, currently carrying a Zacks Rank #2, has witnessed a 6.3% upward revision in broker ratings over the past four weeks.
Headquartered in Seattle, WA, Expedia is one of the largest online travel companies in the world. EXPE's web portals focus on travel planning, travel purchases and travel experience sharing, thus bringing suppliers and consumers of travel-related services together.
Expedia's 2023 earnings are projected to rise 36.2%. The company, sporting a Zacks Rank #1 at present, has witnessed a 5% upward revision in broker ratings over the past four weeks.
Ralph Lauren, based in New York, is a major designer, marketer and distributor of premium lifestyle products. RL offers products in apparel, footwear, accessories, home furnishings and other licensed product categories.
Ralph Lauren's fiscal 2024 earnings are projected to rise 14.3%. The company, sporting a Zacks Rank #1 at present, has witnessed a 9.1% upward revision in broker ratings over the past four weeks.
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For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2055058/upgraded-broker-ratings-make-these-3-stocks-worth-buying-in-2023
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
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The Kroger Co. (KR) : Free Stock Analysis Report
Expedia Group, Inc. (EXPE) : Free Stock Analysis Report
Ralph Lauren Corporation (RL) : Free Stock Analysis Report
