Heading into the final month of 2020, CNBC screened for the S&P 500 stocks with the most upside to analysts’ 12-month price target, according to FactSet.
These names also have at least 50% of the analysts with a buy rating, CNBC said.
The process yielded a couple of names in the healthcare sector, which is still lagging the broader market so far this year.
“Analysts believe some cyclical stocks have more room to go as the economy recovers from the pandemic-induced recession. Newmont Corporation, NRG Energy, Diamondback Energy and EOG Resources are all expected to gain at least 30% in the next 12 months, according to analysts’ average price targets,” CNBC explained.
Here are the 10 stocks:
- DexCom (DXCM)
- Newmont Corp. (NEM)
- NRG Energy (NRG)
- Centene Corp. (CNC)
- Diamondback Energy (FANG)
- Boston Scientific (BSX)
- EOG Resources (EOG)
- Regeneron Pharmaceuticals (REGN)
- CarMax (KMX)
- PulteGroup (PHM)
To be sure, those with a bullish outlook for stocks in 2021 are set to get another uplift: more demand and less supply to the tune of $1.1 trillion.
That’s the conclusion of global market strategists at JPMorgan Chase & Co. as they expect a rise in equity demand of about $600 billion relative to this year. Meanwhile, supply will drop by $500 billion, returning to the very low levels of 2016 to 2018, the strategists led by Nikolaos Panigirtzoglou wrote in a note.
“This is similar to the equivalent equity demand/supply improvement in 2019 relative to 2018 which at the time had seen global equities rising by around 25%,” JPMorgan said, according to Bloomberg.
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