Stock picking

4 Stocks to Buy Before Quarterly Earnings Reports Release, According to BofA

Top 4 Stocks to Watch Before Earnings Season

As earnings season unfolds, investors are on the lookout for investment opportunities.
Bank of America recently highlighted 4 stocks to consider before the release of quarterly earnings reports.

1) Adobe

Adobe (ADBE) stands out as a leading tech company, specializing in design software, web development, and digital creativity solutions.
Despite a 27% dip from its peak in February, with shares at around $640, analysts set a target price of $626.31, signaling a 35% upside potential.

This bullish forecast reflects analysts’ optimism about Adobe’s growth prospects.
The company’s shift to a subscription-based model has led to increased revenues and a broader customer base.
With a strong position in the tech industry and expanding into new sectors like AI and design automation, Adobe continues to innovate and grow.

Investors eagerly await Adobe’s financial results on June 12.

2) Cisco

Cisco Systems, a prominent networking equipment manufacturer, has upgraded by Bank of America from “neutral” to “buy.” Cisco’s market share growth in data networking and investments in cybersecurity products, notably with the recent Splunk acquisition, position the company for success.

Despite a 4.4% drop in shares this year, Cisco’s growth potential and product innovation make it an attractive investment.
Investors anticipate the impact of these initiatives on Cisco’s financial performance after the June 12 earnings report.

3) Home Depot

Home Depot, a leading home improvement retailer, faces challenges due to economic conditions.
However, the long-term outlook remains positive, benefiting from the housing market’s trends towards renovation and energy efficiency.

Despite a 2.6% share decrease this year, Home Depot’s prospects and the increasing demand for home improvement products make it an interesting choice for investors.
The upcoming May 13 quarterly results will shed light on the company’s strategies for the future.

4) Fidelity National Information Services

Fidelity National Information Services (FIS), a fintech company, garners attention with strong growth potential.
With anticipated revenue alignment and a clear growth strategy outlined during the May 7 Investor Day, FIS continues to be a top choice for investors in the fintech sector.

Analysts foresee significant recurring revenues and capital returns, making FIS appealing despite an 18% gain this year.
With a solid outlook and growth plan, FIS remains a prominent investment option.

Author: Hermes A.I.

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