Latest News

‘There Are Signs That a Market Bottom Is in Sight’: Oppenheimer Likes These 2 Stocks for a Comeback Rally


S&P Futures




Dow Futures




Nasdaq Futures




Russell 2000 Futures




Crude Oil
















10-Yr Bond




















CMC Crypto 200




FTSE 100




Nikkei 225




The big question: Has the market hit a bottom yet? Well, according to Oppenheimer’s Head of Technical Analysis Ari Wald, there are signs one is forming, the most notable of which is that the Russell 2000 index – the barometer for small-cap stocks – “held to the June lows in the most recent late Q3 move to the downside.”

Wald also notes that the signal of a market top is when the S&P 500 makes a “higher high, and small caps make a lower high,” and we are currently seeing the opposite scenario play out which might point to a market bottom.

Whether Wald is right or not remains to be seen, but in the meantime his analyst colleagues at Oppenheimer have noted 2 names which they think are well-positioned to push higher from here. We ran the tickers through the TipRanks platform to see what the rest of the Street has in mind for them. Let’s take a closer look.

Corebridge Financial, Inc. (CRBG)

We’ll start with Corebridge, a financial services and insurance products provider based in Texas. Its main offerings include Individual Retirement, Group Retirement, Life Insurance and Institutional Markets.

Many stocks have collapsed in 2022 but Corebridge has managed to sidestep the bear market. That, however, is entirely down to the fact this name is a stock market newbie. In September, Corebridge raised $1.68 billion, in what was the year’s biggest U.S. IPO, after being spun out from parent company AIG (the proceeds went directly to AIG).

While the company has yet to report any quarterly financial statements as a public entity, it should be noted that with more than $350 billion in assets under management, it is one of the biggest providers of retirement financial products, and a highly profitable one at that; in the first six months of the year, Corebridge generated revenues of $15.7 billion, while profit more than doubled from the same period a year ago to $6.4 billion.

In his initiation note, Oppenheimer analyst Chris Kotowski highlights the “strong cash generation potential.”

“As the life insurance operation of AIG, Corebridge has in recent years delivered more than $2B annually in adjusted earnings and cash distributions to its former parent,” The 5-star analyst said. “In the future, we see that cash coming to shareholders in the form of both dividends (currently targeted at $600M annually) and share buybacks, which we would expect to commence within a few quarters. We expect about $2.4B in adjusted earnings in 2023E, and management is targeting a total return to shareholders of 60-65%, which would equate to ~$1.5B, or a double-digit cash return given the current $13.1B market capitalization, plus capital retention for future growth.”

To this end, Kotowski puts an Outperform (i.e., Buy) rating on CRBG, backed by a $30 price target. The implication for investors? Upside of 51% from current levels. (To watch Kotowski’s track record, click here)

Overall, this new stock has a Moderate Buy rating from the analyst consensus, after attracting 12 reviews since the IPO. These reviews break down 8 to 4 in favor of the Buys over the Holds. Shares in CRBG are selling for $19.81 and the stock’s $24.83 average price target suggests it has room for 25% upside potential in the next 12 months. (See CRBG stock forecast on TipRanks)

POINT Biopharma Global (PNT)

The next stock we’ll look at is POINT Biopharma, a researcher in the field of radiopharmaceutical drug development and evaluation. Radiopharmaceutical therapy is an approach which uses radiation to target specific cancer cells with minimal impact on otherwise healthy cells. As such, the company is focused on developing and bringing to market radioligands that take the good fight to cancer.

POINT has several candidates in the early-stages of development, including potential pan-cancer target PNT2004, a best-in-class FAP-α targeted radioligand.

The company also has two late-stage programs in progress. One is for PNT2003, a somatostatin receptor (SSTR) targeted radioligand therapy being developed to treat patients with SSTR-positive neuroendocrine tumors. Its trial is now fully enrolled, and a data readout is expected later this year.

The other asset on the radar right now is PNT2002, currently being assessed in the Phase 3 SPLASH study and indicated as a treatment for metastatic castration-resistant prostate cancer (mCRPC). In the U.S., 52,000 men are either diagnosed with or progress to mCRPC each year. The company recently presented early positive data from the study.

Among the bulls is Oppenheimer analyst Jeff Jones who thinks the future is bright for this biotech.

“We see PNT as a leader in the radiopharmaceutical therapeutics (RPT) space based on: 1) deep pipeline, with two late-stage clinical programs—PNT2002 in PSMA + metastatic castration resistant prostate cancer (mCRPC) and PNT2003 in neuro-endocrine tumors (NETs)—each targeted for launch in 2025; 2) a robust supply-chain foundation which we see as critical for success in the RPT space; and 3) platform technology that may provide substantial differentiation for future drug candidates. PNT’s >$300M in cash, inclusive of its latest financing, supports operations through 2024E, positioning PNT for significant clinical read-outs, pipeline maturation, and commercial launch preparations,” Jones wrote.

POINT shares have bucked the trend for widespread losses in 2022 and even after a recent public offering of common stock sent shares lower, they are still up 38% since the turn of the year.

Jones evidently thinks there’s plenty of room left to run. Along with initiating coverage with an Outperform (i.e., Buy) rating, the analyst’s $20 price target implies shares will be changing hands for a 158% premium a year from now. (To watch Jones’ track record, click here)

All in all, some stocks make a roundly positive impression on Wall Street’s analysts, and PNT is one of those. This radiopharmaceutical researcher has a unanimous Strong Buy consensus rating, based on 7 recent positive reviews. The shares are priced at $7.74 and the average price target is even a touch higher than Jones would allow. At $20.43, it suggests that PNT shares can appreciate ~164% in the coming 12 months. (See PNT stock forecast on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.



‘There Are Many Stocks That Are Already Reflecting a Recession’: Morgan Stanley Says It’s Time to Buy These 2 Beaten-Down Names

Those hoping for the fourth quarter to herald a stock market comeback have been disappointed so far. A late-year rally has yet to properly materialize with the market still factoring further turmoil as the fight against inflation continues and the specter of a recession remains. However, while the prospect of a recession looms, Morgan Stanley’s Investment Management Managing Director Andrew Slimmon points out that many stocks already appear to be taking for granted the likelihood of a recession.

Unusual Option Activity in Tesla: Bears Hit it Big

Tesla bears have been on a roll over the past two weeks — opening increasingly intense bearish option trades against the EV giant in the face of the stock’s continued plunge.


Why J.P. Morgan Believes These 3 Stocks Are Attractive in the Current Market

Tired of hearing about inflation? Well, tough luck. That is once again this week’s hot topic. On the agenda, the wholesale and consumer inflation reports – out Wednesday and Thursday, respectively. Considering the market’s latest pullback, Wall Street is evidently on edge following a good-is-bad jobs report, with little expectation the Fed will be relaxing its monetary policy anytime soon. Q3 earnings are also about to kick off and financial statements will offer a clue on inflation and rising c


Boaz Weinstein Predicts Years of Market Worry: ‘We’re in a Fog’

(Bloomberg) — Hedge fund manager Boaz Weinstein said the uncertainty that’s currently gripping markets could endure for a long period.Most Read from BloombergIntel Is Planning Thousands of Job Cuts in Face of PC SlumpHere’s How Weird Things Are Getting in the Housing MarketPutin Says All Infrastructure at Risk After Nord Stream HitAlex Jones Must Pay $965 Million for His Sandy Hook LiesUS Core Inflation Seen Returning to 40-Year High as Rents Rise“We’re in a fog,” the founder of Saba Capital Ma


What History Tells Us About Getting Through a Bear Market

Suffering through a bear market is never pleasant, even for professionals or those with decades of investing experience. Although the Wall Street axiom of “buy low, sell high” sounds easy enough to…


Analysts See Meta Connect Shows Progress With Partnerships, Admire Mark Zuckerberg’s Vision

Needham analyst Laura Martin reiterated Underperform on Meta Platforms, Inc (NASDAQ: META). She admired Mark Zuckerberg’s commitment to a vision despite overwhelming odds. The analyst highlighted Meta’s sharp contrast to Apple Inc’s (NASDAQ: AAPL) events. Mark Zuckerberg was on screen 90% of the time, making it clear that he is the project manager & CTO for the metaverse. Also, whereas AAPL highlights specific apps on its iOS platform, Meta shared its stage with the CEOs of both Accenture Plc (N


Intel’s Workforce Reduction and Organizational Restructuring Not Enough, Fears Analyst

BofA analyst Vivek Arya maintained an Underperform on Intel Corp (NASDAQ: INTC) and a $30 price target. Two separate media reports suggested INTC’s plan to reduce its marketing and sales headcount by 20% and create greater decision-making separation between its design and manufacturing teams. Both steps were necessary but insufficient to change his fundamental concerns around core strategic, competitive and financial risks, Arya mentioned in his Wednesday note titled “First take on headcount red

Microsoft Teams up With Apple (This Might Just Be the Start)

This conflict most often occurs between two major makers of laptop and desktop computers, tablets, and mobile devices: Apple and Microsoft . Apple’s Mac computers and iPhones are ridiculously easy to pair up. Thanks to Apple’s “AirDrop” feature, you can send pictures and website links between your computer and your cell phone.

The Wall Street Journal

Moderna Stock Jumps After Cancer Vaccine Announcement

Shares of Moderna surged more than 11% on Wednesday after the biotech company [announced]( it would develop and sell a personalized cancer vaccine with Merck. The stock was the biggest gainer on the S 500 around midday. Shares of Merck were little changed. Merck will pay Moderna $250 m


Fed’s Bowman says more big rate hikes on table if inflation will not cool

Federal Reserve Governor Michelle Bowman said on Wednesday that if high inflation does not start to wane she will continue to support aggressive rate rises aimed at taming price pressures. “Inflation is much too high, and I strongly believe that bringing inflation back to our target is a necessary condition for meeting the goals mandated by Congress of price stability and maximum employment on a sustainable basis,” Bowman said in the text of a speech to be delivered before a gathering in New York City. The policy maker said Fed rate rises this year, which have been very large relative to the pace of past rate rise campaigns, had her full support.


S&P 500, Nasdaq end lower; BoE comments add to market jitters late

The S&P 500 and Nasdaq ended lower on Tuesday, with indications from the Bank of England that it would support the country’s bond market for just three more days adding to market jitters late in the session. All three major indexes fell in afternoon trading after Bank of England Governor Andrew Bailey told pension fund managers to finish rebalancing their positions by Friday when the British central bank is due to end its emergency support program for the country’s bond market. “What caused the latest downturn was an announcement the Bank of England was going to stop supporting the gilt (UK bonds) market in three days,” said Randy Frederick, managing director, trading and derivatives at Charles Schwab in Austin.


What Dimon’s ‘Easy 20%’ Drop in the S&P 500 From Here Looks Like

(Bloomberg) — JPMorgan Chase & Co.’s boss Jamie Dimon says the US stock market could suffer another “easy 20%” drop, which would push the benchmark index below 3,000 — a level it hasn’t seen since the depths of the coronavirus pandemic. So what would another slide of that magnitude actually look like and which stocks would get hit hardest? For one thing, it would be painful for investors, with technology and so-called growth shares likely taking the brunt of the suffering, with their elevated

Unusual Option Activity in Tesla: Bears Hit it Big

Previous article

Ray Dalio Says There’s a ‘Perfect Storm’ Brewing; Here Are 2 High-Yield Dividend Stocks to Protect Your Portfolio

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News