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Here are 2 Stocks with a “Perfect 10” Smart Score
Stock Analysis & Ideas

Here are 2 Stocks with a “Perfect 10” Smart Score

Story Highlights

Stocks with “Perfect 10” Smart Scores, such as Brookfield Renewable Partners and Ferrari, are considered beneficial for investors’ portfolios as they tend to outperform the market averages.

TipRanks has developed a unique methodology to rank stocks based on their Smart Scores. The tool uses eight key parameters, including the ratings of the Top-performing analysts as well as technical and fundamental factors to analyze stocks. The system assigns a Smart Score between 1 and 10, with 10 being the best score. Importantly, stocks with a “Perfect 10” Smart Score have historically outperformed the S&P 500 Index (SPX) by a wide margin. This makes these stocks lucrative investment choices.

We used the TipRanks Top Smart Score Stocks tool to choose two stocks that have a “Perfect 10” score – Brookfield Renewable Partners (NYSE:BEP) and Ferrari NV (NYSE:RACE).

Brookfield Renewable Partners

Brookfield Renewable Partners is a Canada-based platform providing renewable power and decarbonization solutions. BEP owns a portfolio of renewable power-generating facilities, primarily in North America, Colombia, Brazil, Europe, India, and China.

BEP stock was added to the “Perfect 10” list yesterday. BEP has a Very Positive Insider Confidence Signal. Corporate insiders bought BEP shares worth $9.3 million in the last three months. The stock also enjoys bullish Blogger sentiment and Neutral News Sentiment on TipRanks.

Recently, UBS analyst William Grippin downgraded BEP to Hold from Buy. The analyst also lowered the price target to $25 (1.5% upside) from $34. Grippin is dissatisfied with BEP’s consistent underperformance of wind and solar assets. At the same time, he is encouraged by the company’s lower-than-average leverage, share buyback plans, and diversified asset base.

Is BEP Stock a Good Buy?

With six Buys versus two Hold ratings, BEP stock commands a Strong Buy consensus rating. On TipRanks, the average Brookfield Renewable Partners price forecast of $28.68 implies 16.5% upside potential from current levels. Year-to-date, BEP stock has lost 1.5%.

Ferrari NV

Ferrari is an Italy-based auto manufacturer with global operations. Ferrari designs, manufactures, and sells luxury performance sports cars. Additionally, the company sells Ferrari-branded merchandise and apparel.

RACE stock was added to the “Perfect 10” list yesterday. Our data shows hedge funds are currently Very Positive on Ferrari stock, as they bought 101,900 shares last quarter. The stock also exhibits Bullish Blogger sentiment.

Recently, UBS analyst Susy Tibaldi raised the price target on RACE to $417 from $380 while maintaining a Buy rating. Tibaldi is encouraged by Ferrari’s leading position in the luxury sports car segment despite the tough macro environment. Plus, Ferrari’s expectation of returning to a normalized growth rate of +10% in 2024 makes the analyst highly optimistic.

Will Ferrari Stock Go Up?

On TipRanks, the current average Ferrari price target of $361.65 implies that shares are almost fully valued. Ferrari has a Moderate Buy consensus rating based on eight Buys and six Hold ratings. Year-to-date, RACE stock has zoomed 70.4%.

Key Thoughts

Investors looking for stocks with solid potential for outperformance can consider BEP and RACE stocks. The highest Smart Score on TipRanks suggests that these stocks could outperform the broader market averages.

Additionally, for investors seeking more in-depth analysis and expert opinions, TipRanks’ Experts Center tool can provide valuable insights and recommendations on top stocks.

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