Over the past year, the S&P 500 generated a total return of 25%, significantly higher than its long-term average. Despite that impressive performance, certain Wall Street analysts still see plenty of upside for investors, especially in some recently beaten-down growth stocks.
For instance, Rosenblatt Securities analyst Mark Zgutowicz currently has a price target of $500 on Roku (NASDAQ: ROKU) , implying 199% upside. And Imperial Capital analyst Brian Ruttenbur recently initiated coverage on Latch (NASDAQ: LTCH) with a price target of $15, implying 137% upside. Of course, Wall Street's price targets tend to be short-term in nature (i.e. 12 months), and you should never build an investment thesis based on near-term expectations.
However, it's still worth taking a closer look at both of these businesses. Here's what you should know.
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Want 137% to 199% Upside? 2 Growth Stocks to Buy Now, According to Wall Street