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The 10 most highly-ranked shares by Wall Road analysts in Might 2021

It's no surprise that one of the best strategies for investors in judging a stock's short-term fortune is to find stocks that recently …

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This story originally appeared on MarketBeat

Many popular stocks are studied by a number of analysts. These experts give investors opinions about the direction of a stock based on their knowledge of the company and / or the sector. Some analysts even have access to top management. Unsurprisingly, one of the best strategies for investors to gauge the short-term fortunes of a stock is to find stocks that have recently been upgraded by analysts.

With that in mind, here are the top 10 stocks that have had their price target upgraded (or target price raised) by Wall Street analysts on MarketBeat in May 2021:

Biogen (NASDAQ: BIIB) – Biogen began rising in early June after the US Food & Drug Administration (FDA) approved its experimental Alzheimer's drug aducanumab. The drug's approval is controversial as it was rejected by an FDA advisory committee in November. But even bearish analysts like Piper Sandler's Christopher Raymond have upgraded the stock and expect BIIB stock to move "significantly higher".
Adobe (NASDAQ: ADBE) – The creative software company got a second wind with the spread of cloud computing. And as our Thomas Hughes wrote, 14 analysts gave positive comments on ADBE shares after an excellent earnings report. All of these analysts have raised their target price and the consensus price is now around $ 650, an increase of about 18% from the current price.
Costco (NASDAQ: COST) – Costco continues to publish strong numbers amid concerns that the company could face harsh comparisons to last year's pandemic-related earnings. However, the Warehouse Club has had strong holdings and is widely expected to make a price hike sometime in 2021. Since the beginning of May, 13 analysts have raised their price targets for the COST share.
Ulta Beauty (NASDAQ: ULTA) – Since May, 12 analysts have issued upgrades to ULTA stock, expecting the stock to be a winner when the economy reopens. So far, this is a narrative that plays out as Ulta Beauty is up over 15% in 2021. The company recently released an excellent earnings report, punctuated by a 65% increase in comp store sales.
Intuition (NASDAQ: INTU) – Intuit Stock is an example of why the details are important when looking at analyst ratings. At first glance, the consensus price target suggests that INTU stock is likely to fall. However, eleven analysts recently upgraded the share price. And many of those upgrades indicate a significantly higher price for the stock. One reason for optimism is the company's switch to a cloud-based subscription model, which is intended to stabilize sales in the short term.
Nvidia (NASDAQ: NVDA) – Nvidia has been in tears since the pandemic began. The company saw demand for its graphics processing units (GPUS) as the video game market picked up. Speaking of full speed: the automotive market was an important customer for the company's chip units. 11 out of 32 analysts have given NVDA shares a price increase since the beginning of May. And investors still have time to buy their way into the stock as it prepares to issue a 4-for-1 stock split.
Marvell Technology (NASDAQ: MRVL) – Another semiconductor making this list is Marvell Technology. The company is a fabless semiconductor company, which means it outsources much of its semiconductor manufacturing to third parties. This allows the company to invest its capital in the development of new products. And like all semiconductor companies, Marvell is likely to benefit from increased demand due to the global chip scarcity. 11 analysts recently issued upgrades for the MRVL stock, and most of the upgrades show that the stock has a lot of upside potential.
Seagate Technology (NASDAQ: STX) – Seagate Technology is a data storage company that is up over 67% in the past 12 months. In particular, Seagate is one of the largest manufacturers of hard disk drives (HDD) in the world. However, as the demand for data storage increases in a market like cryptocurrency mining, STX stock is shaking off its reputation as a slow-growing stock.
Broadcom (NASDAQ: AVGO) Broadcom stock put investor patience to the test in 2021. AVGO stock has been defined by huge volatility in price, which reflects a feeling that the company's strong results simply weren't strong enough. That said, the stock is benefiting from 10 recent analyst upgrades, largely due to expected strength in the semiconductor sector.
Oracle (NYSE: ORCL) – Oracle presented a curious case to investors. The company achieved an unexpectedly strong result. But ORCL stock is down over 8% in the days following earnings reports as investors take profits with an ongoing wait and see approach. Analysts are more bullish as nine analysts are upgrading the stock.

NVIDIA is part of the Entrepreneur Index, which tracks some of the largest publicly traded companies founded and run by entrepreneurs.

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