The S&P 500 Index has risen by 19% year-to-date, with three weeks remaining in the year and just a five percentage point gap from the all-time highs reached in January 2022.
Despite the impressive rally in the broader stock market, closely followed by the SPDR S&P 500 ETF Trust (NYSE:SPY), only 281 stocks comprising the index, or 56% of the total, have shown positive performance since the beginning of the year.
In other terms, 44% of S&P 500 companies took the path of retreat, a rare sight in a year when the stock market’s returns were nothing short of a feast.
Investors seeking so-called “laggards” Goldman Sachs recently dedicated an analysis to this topic — are looking for the untapped potential hidden in S&P 500 stocks that have remained well outside the bullish eye of the market in 2023.
Hunting For Laggards In A Bullish Jungle: Top 10 S&P 500 Upside Picks
The stock that currently offers the highest upside potential compared to the median price targets set by Wall Street analysts is Moderna Inc. (NASDAQ:MRNA). Moderna is trading at $78 per share, while the one-year median price target is $127.50, representing ...