Wall Street thinks these comeback stocks can keep going as S&P 500 nears a new high

CNBC

26-06-2025

Analysts see a group of stocks that have helped drive the market higher in the past two months, potentially scoring even more gains from current levels. By now, the S & P 500 has recovered most of its losses since its low of the year back on April 8. Stocks plummeted in early April after President Donald Trump unveiled his universal tariff policy, but have bounced back as the United States delayed the tariffs and continued trade talks with major trading partners. The S & P 500 now trades less than 1% below its all-time closing high reached in February. To find stocks with momentum at their back that analysts think can keep on rallying, CNBC Pro screened FactSet data to try and find companies in the S & P 500 that might continue to win big. To be included in the search, stocks had to meet the following criteria: Risen at least 20% since the S & P 500 low for the year on April 8 Buy ratings from at least 60% of analysts who cover the stock Have upside to analysts' average price target of at least 20% One prominent name on the list: First Solar . The maker of solar modules and specialist in thin-film technology has climbed 26% since April 8. Analysts are still bullish on First Solar, with 71% of analysts who cover it giving it a buy rating. Analysts' consensus price target implies upside of 35%. Earlier this month, Jefferies upgraded First Solar to a buy rating from hold. "We see a temporary pullback around [the Biden Administration's Inflation Reduction Act] for utility-scale solar and see FSLR's increasingly U.S.-made product as benefiting uniquely from very strict Chinese-import restrictions," wrote analyst Julien Dumoulin-Smith. "These restrictions appear increasingly clear to 'stick' through the Senate debate, [blocking] much of FSLR's foreign competition as well as their nascent build-out in the U.S. Better pricing ahead." At current prices, First Solar's valuation looks especially compelling, Jefferies added. Similarly, analysts are bullish on airline stocks Delta Air Lines and United Airlines , which have gained 38% and 41%, respectively, since April 8. Approximately 76% of analysts covering Delta rate it a buy, and the average price target implies the stock has room to appreciate by 25% over the next year. Likewise, 77% of analysts are positive on United, which could rally 28% to reach its average price target. Last month, UBS upgraded both carriers to buy. "Recent tariff relief due to the 90-day agreement with China and framework with the UK support a shift in our base case from a downturn in the economy to stability/slow growth," wrote analyst Thomas Wadewitz. "A more stable economic backdrop and the recent rebound in the U.S. equity market give us increased confidence in the resilience of international and premium revenue which had been our primary cyclical concern for both DAL and UAL." MGM Resorts , up 33% since April 8, is another stock that could continue to win big, in the eyes of Wall Street even after the big move. The average price target corresponds to a gain of another 35%, and two thirds of analysts covering the gambling operator are bullish on its prospects. Earlier this month, shares of MGM surged 8% in a single day after BetMGM — a joint venture of MGM and Entain — updated its full-year guidance .