Multiple stocks are lagging the market this year, but Wall Street says don’t write them off yet — they could soon be due for a turnaround. The S & P 500 rose 3.1% in March alone, putting it 10.2% higher for the year. That performance also brought signs that the narrow market rally may be broadening out; the energy sector is ahead almost 13% so far this year, while financials have climbed almost 12%, both groups besting the the broad market’s gains. With this in mind, CNBC Pro screened for stocks in the S & P 500 that might be positioned for a rebound this year. The companies in the screen all met the following criteria: Lagging the market, but not collapsing: they are flat to down 10% year to date Well-liked by analysts: consensus rating is a buy Upside potential: average price target is 20% or higher than the stock’s current level Take a look at where analysts see some of these stocks headed next: Online dating platforms service Match Group is one of the underperforming stocks that could make a comeback this year. Shares were down 2.3% in 2024 thru the open Wednesday March 27, but the average price target implies around 22% upside potential, according to FactSet. Match was also highlighted as one of Goldman Sachs’ favorite asset-light stocks earlier this month. UnitedHealth Group is another market laggard with promise. According to the consensus analyst price target, the stock could rise 20.1%, per FactSet. Currently, the stock is down about 6.5% in 2024, as of the middle of last week. By comparison, the broader health care sector is up 8.3% over the same period. The healthcare company is dealing with the fallout of a cybersecurity breach from February. As a result, it has paid out more than $3.3 billion to providers affected by the hack. UNH XLV YTD mountain UnitedHealth Group versus the Health Care Select SPDR Fund Casino and hotel company Caesars Entertainment also made the list. The stock was down around 8.9% for the year through the middle of last week, but the average price target on the stock suggests shares could bounce back nearly 37%. Cruise line operator Carnival was down 8.1%, but could climb up back into the green this year. Analysts forecast shares gaining 24.3% from their current levels. Carnival posted mixed results for the first-quarter last Wednesday. Although its reported revenue of $5.41 billion fell short of the $5.43 billion forecast by analysts polled by LSEG, its adjusted loss per share of 14 cents was better than the 18 cent…
Click Here to Read the Full Original Article at Investing…
