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There are some stocks worth shorting right now, according to Wolfe Research. It has been a solid year for stocks, with the S & P 500 up more than 17% year to date. But Wolfe sees a handful that aren’t smart long-term investments, even as the broader market rises. To find these stocks, the firm released a list of names that appeared the most times across 16 short ideas screens. The screeners range on topic, covering everything from leverage to margin volatility. CNBC Pro compiled the stocks whose names appeared on at least five of the screens: Tesla was the most frequent name, popping up in seven of the screens. The stock has had a strong year, climbing nearly 90% since the start of 2023. But Wall Street also doesn’t see more rallying on the horizon for Tesla. The average analyst has a hold rating and price target implying shares could pull back by more than 3% in the next year, according to LSEG. Rivian , another electric vehicle stock, appeared in five of the screens. Earlier this month, the company posted a wider loss per share than analysts polled by FactSet had forecasted for the third quarter, though it was narrower than in the same period a year prior. Unlike Tesla, the stock has tumbled more than 10% since the start of 2023. Despite the poor performance, the average analyst has a buy rating and expects shares to rally 64% over the next year, per LSEG. Outside of EVs, Walgreens was also among the most popular stocks in the screeners with six appearances. The Dow Jones Industrial Average member has struggled this year, with shares shedding more than 44% since the start of 2023. Despite having a hold rating on the stock, the average analyst surveyed by LSEG sees a rebound ahead with a target share price implying a nearly 34.5% upside. — CNBC’s Michael Bloom contributed to this report
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