3 High-performing Stocks That Could Rip Once Markets Turn Back Up

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Key Points Alphabet shares hit a new high earlier this month and have managed to stay effectively flat amidst all the selling. It’s a similar story with Exxon, who are already moving higher again from a minor dip two weeks ago. Wells Fargo is another one with a ton of upside potential, and investors should be watching closely. 5 stocks we like better than Exxon Mobil With the S&P 500 index, and equities in general, having had their worst run of red days so far this year, almost every stock has seen losses in recent weeks. This includes names of all sizes, and from across all industries; as the reason for the dip, a surprise jump in inflation is effectively bad for everyone. But for those of us on the sidelines, it means that some interesting entry opportunities could be opening up, as otherwise quality names get unfairly dragged down. One of the better ways to spot these stocks is to look for those that were outperforming their peers all through Q1. To help get you started, here are 3 such stocks below. Get Exxon Mobil alerts: Sign Up Alphabet Today GOOGL Alphabet $171.95 +15.95 (+10.22%) 52-Week Range $103.54 ▼ $174.71 P/E Ratio 26.37 Price Target $187.82 Add to Watchlist Alphabet have been ripping higher since November of last year when the risk-on sentiment started sweeping equities. They dipped a little through February before recovering, and while the major indices have been softening since the first week of April, Alphabet actually hit a fresh all-time high on the 12th. This is indicative of some real momentum behind the stock, and whereas the tech-heavy NASDAQ index has fallen by as much as 5% since then, Alphabet shares have managed to stay effectively flat. This past week alone has seen the team at KeyCorp reiterate their Overweight rating on Alphabet shares while also boosting their price target to $175. This echoed the update from Jefferies last week, who did the same but with an even higher price target of $180. From the $156 that Alphabet shares closed at on Thursday, that’s pointing to at least a further upside of some 15%. With shares barely down even when the rest of the market has been hurting, we can expect that gap to be closed quite quickly once the broader market turns back up. Exxon Mobil Today XOM Exxon Mobil $117.96 -3.37 (-2.78%) 52-Week Range $95.77 ▼ $123.75 Dividend Yield 3.22% P/E Ratio 14.46 Price Target $132.28 Add to Watchlist Energy giant Exxon’s story is similar. Though in a completely different industry, their shares also hit a fresh all time high earlier this month. Despite equities in general seeing a mass rush for the exit, they have remained stubbornly buoyant. Much of this would have been based on investors' optimism for the company’s fiscal Q1 earnings, which were released on Friday morning. Early indications suggest it will be well received as a solid report, with a slight miss in earnings per share more than made up for by a better-than-expected revenue print. Regardless, such is the momentum behind Exxon shares that even if we were to see a dip after Friday’s report, there are enough reasons to view that as a buying opportunity. Piper Sandler, UBS Group and Scotiabank are just a handful of the analyst teams that have reiterated Buy or Overweight ratings on Exxon this month alone, with a street-high price target of $150 pointing to a potential upside of some 25%. Wells Fargo & Company Today WFC Wells Fargo & Company $59.91 -0.02 (-0.03%) 52-Week Range $36.40 ▼ $61.76 Dividend Yield 2.34% P/E Ratio 12.51 Price Target $58.85 Add to Watchlist Last up is Wells Fargo, which has been a laggard compared to its bigger peers in recent years but has been one of the top performers in recent months. Its shares have been up more than 50% since November, and, if anything, the current selloff is being used as a breather before the next phase of the rally. They’ve dropped less than 3% from the rally’s peak, hit on Tuesday, and its shares look good value to start ripping again if the broader equity market continues turning north next week. Morgan Stanley and the Argus team rated them as Overweight. Wells Fargo’s street-high target of $67 suggests an upside of around 15% from the current price, too. Investors should look for shares to close above $60 going into the weekend, which would help form a solid level of support from which to move on next week. Before you consider Exxon Mobil, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Exxon Mobil wasn't on the list. While Exxon Mobil currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here