[ad_1]
Thanksgiving is a a choppy and low-volume time for the market. However, some stocks have a history of doing well after the holiday into December as things pick up again and investors look for what they want to own into year-end. From Wednesday to Friday over the shortened trading week, the 30-stock Dow Jones Industrial Average has only posted gains 18 out of the last 34 times, according to data from Stock Trader’s Almanac. The stock market will be fully closed on Thursday and will close at 1 p.m. on Friday. But after that listless trading things tend to pick up. CNBC Pro screened for stocks that tend to rise following the Thanksgiving holiday. Specifically, we searched for names that met this criteria: Stocks on average a gain 1% or more in the two weeks after Thanksgiving over the past 10 years. Wall Street likes the shares today: At least 55% of analysts polled by FactSet maintain buy ratings. Average analyst targets imply 15% upside or more. Caesars Entertainment boasts the strongest track record of gains following Thanksgiving on the list, adding nearly 5% over the past 10 years. The stock has climbed roughly 10% in 2023, while more than 66% of analysts polled by FactSet rate shares as a buy. CZR YTD mountain Caesars Entertainment stock. The company reached a tentative agreement to avoid a strike with the Culinary Union earlier in November, which would have involved 10,000 employees. Pharmacy stock CVS also made the list. The stock has added 2.3% on average in the two weeks following the holiday as cold and flu season picks up. Shares are also well liked by analysts with more than 69% of analysts polled by FactSet maintain a buy rating on CVS. The average price target on the stock implies about 28%. The company surpassed Wall Street’s third-quarter estimates earlier in November , thanks to strong revenue gains from its health services segment. To be sure, shares have been under pressure this year, slipping more than 27%. CVS YTD mountain CVS stock. Airline Delta has the most bullish outlook from analysts on the list, with about 83% of analysts polled by FactSet maintaining a buy rating. The stock has historically added 2.6% after Thanksgiving with holiday travel in full swing, and shares have climbed 9% in 2023. The company recently trimmed its corporate workforce in an effort to cut down on costs. The move follows a nearly 60% rise in profit in the third quarter for the Atlanta-based airline.
[ad_2]
Source link
