Following a harsh January, the first week of February trading gave a much-needed boost to equities, particularly tech companies, which delivered a string of positive earnings reports.
The three large technology stocks — Amazon (AMZN), Alphabet (GOOGL), and Meta Platforms (FB) — all reported last week. While Alphabet and Amazon’s market capitalizations climbed by billions of dollars in the next day’s trading session following the announcement, Meta lost a significant sum after disappointing investors.
At the same time, a healthy January jobs report demonstrates the economy’s recovery in the United States. Furthermore, we’re now quite aware that supply chains will take time to sort out, and while the Fed may be hawkish, it’s highly unlikely to take any action that may push the economy into recession.
As a result, now has become a fantastic time to invest in the stock market. TipRanks Smart Score methodology, which assesses eight critical factors, can help investors build a portfolio that will maximize returns.
Using TipRanks’ Top Smart Score Stocks, we selected two stocks that have earned the coveted ‘Perfect 10’ Smart Score — a strong signal of outperformance in the near future.
Marathon Petroleum (MPC)
The first company on the list is Marathon Petroleum, which has been given a “Perfect 10” rating since yesterday.
The company is the largest petroleum refiner in the U.S. The corporation refines, distributes, and transports a wide range of petroleum products, and its 16 refineries can produce more than 3 million barrels of product each day.
On the financial front, the company announced strong fourth-quarter earnings results on February 4. The firm generated $35.6 billion in revenues, including other income, and $794 million in adjusted profitability in the fourth quarter.
In addition, the corporation launched a new $5 billion repurchase program to reward its shareholders. In addition to share repurchases, MPC has been providing dividends to its shareholders, with the current dividend yield at 2.96%.
The majority of analysts who follow MPC were pleased with the results and maintained a Buy rating on the stock.
On TipRanks, Marathon Petroleum stock commands a Strong Buy consensus rating, based on 11 Buys and 2 Holds. The shares are priced at $79.83 and the average MPC price target of $83.62 implies around 4.8% upside from that level.
In addition, investors have been enthusiastic about the stock, and the stock price has increased by 90.6% in the last year. It’s worth mentioning that investors holding portfolios on TipRanks maintain a very positive outlook on MPC stock. The data shows that 6.4% of these investors have increased their holdings in Marathon Petroleum stock in the last 30 days.
Ingersoll Rand (IR)
Next up is Ingersoll, which has received a “Perfect 10” since yesterday. This company is a worldwide industrial conglomerate with a focus on industrial and mission-critical flow creation technologies.
The company is an interesting stock to invest in because of the company’s continual efforts to expand its product range through acquisitions and innovation. Earlier this month, the company acquired Houdstermaatschappij Jorc B.V. (“Jorc”) in an all-cash deal for €27 million. Jorc manufactures condensate management products, which include condensate drains, oil/water separators, and air-saving devices. The acquisition will broaden Ingersoll’s technology and product range, allowing it to better serve its clients.
Analysts are positive on this company: in the past three months, seven analysts have rated it a Buy, while only one has given it a Hold rating, and none say to Sell. The average Ingersoll price target is $67.13, representing 23% upside potential.
The company will report its fourth-quarter earnings results on February 23. According to analysts, Ingersoll is expected to report adjusted earnings of $0.6 per share in Q4. This represents an increase of 13.2% on a year-over-year basis.
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