These 16 stocks are set to crush the market in August

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These 16 stocks are set to crush the market in August

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 31, 2019. REUTERS/Brendan McDermid

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  • Wedbush Securities published an update to its "Best Ideas List," which features the firm's top stock picks for the month of August.
  • The firm's analysts picked their favorite stocks across the industries they cover, including software, technology, retail, and financial services, among other sectors.
  • Here are 16 stocks poised to outperform the market in August, according to Wedbush.
  • Visit the Markets Insider page for more stories.

Wedbush Securities recently released an update to its "Best Ideas List," which features a collection of the firm's top stock picks for the month of August.

Wedbush analysts selected their favorite stocks within their coverage areas, and the list features companies across the software, technology, retail, and financial-services industries.

Each pick is accompanied by a price target from the firm's analysts, and Markets Insider calculated an implied upside using that data. That represents the potential return from the current share prices to the forecasted price targets in the report.

Here are 16 companies that could dominate the market in August, according to Wedbush. They're listed in increasing order of expected upside from current levels.

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16. Fidelity National Information Services

16. Fidelity National Information Services

Ticker: FIS

Industry: Financial Services

Price: $129.70

Price target: $140

Implied upside: 7.94%

Source: Wedbush Equity Research

15. Ares Capital Corp

15. Ares Capital Corp

Ticker: ARCC

Industry: Financial Services

Price: $18.27

Price target: $20

Implied upside: 9.47%

Source: Wedbush Equity Research

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14. Fifth Third Bancorp

14. Fifth Third Bancorp

Ticker: FITB

Industry: Banking

Price: $26.90

Price target: $32

Implied upside: 18.96%

Source: Wedbush Equity Research

13. Activision Blizzard

13. Activision Blizzard

Ticker: ATVI

Industry: Video games

Price: $46.92

Price target: $56

Implied upside: 19.35%

Source: Wedbush Equity Research

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12. Microsoft

12. Microsoft

Ticker: MSFT

Industry: Technology

Price: $133.44

Price target: $160

Implied upside: 19.90%

Source: Wedbush Equity Research

11. Tempur Sealy International

11. Tempur Sealy International

Ticker: TPX

Industry: Mattresses

Price: $75.57

Price target: $93

Implied upside: 23.06%

Source: Wedbush Equity Research

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10. Wix.com

10. Wix.com

Ticker: WIX

Industry: Web development

Price: $142.91

Price target: $180

Implied upside: 25.95%

Source: Wedbush Equity Research

9. Pegasystems

9. Pegasystems

Ticker: PEGA

Industry: Software

Price: $69.51

Price target: $90

Implied upside: 29.48%

Source: Wedbush Equity Research

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8. Royal Caribbean Cruises

8. Royal Caribbean Cruises

Ticker: RCL

Industry: Cruise line

Price: $106.73

Price target: $140

Implied upside: 31.17%

Source: Wedbush Equity Research

7. PayPal

7. PayPal

Ticker: PYPL

Industry: Payments

Price: $104.75

Price target: $140

Implied upside: 33.65%

Source: Wedbush Equity Research

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6. Salesforce

6. Salesforce

Ticker: CRM

Industry: Software

Price: $142.43

Price target: $192

Implied upside: 34.80%

Source: Wedbush Equity Research

5. Electronic Arts

5. Electronic Arts

Ticker: EA

Industry: Video games

Price: $89.85

Price target: $122

Implied upside: 35.78%

Source: Wedbush Equity Research

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4. Advance Auto Parts

4. Advance Auto Parts

Ticker: AAP

Industry: Auto-parts

Price: $143.97

Price target: $200

Implied upside: 38.92%

Source: Wedbush Equity Research

3. New Relic

3. New Relic

Ticker: NEWR

Industry: Software

Price: $82.91

Price target: $124

Implied upside: 49.56%

Source: Wedbush Equity Research

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2. The Children's Place

2. The Children's Place

Ticker: PLCE

Industry: Retail

Price: $86.53

Price target: $130

Implied upside: 50.24%

Source: Wedbush Equity Research

1. Foot Locker

1. Foot Locker

Ticker: FL

Industry: Retail

Price: $39.48

Price target: $64

Implied upside: 62.11%

Source: Wedbush Equity Research

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