Timothy Arcuri from UBS, perhaps the most accurate analyst on Wall Street, has issued multiple rating revisions since October began, with a handful of reconsidered equities standing out for the sheer size of the forecasted upside.
Specifically, the Wall Street analyst – rated number 1 out of the 12,522 represented on the stock analysis platform TipRanks and boasting a 74% ‘success rate’ – revised his price target for eight companies, assigned six ‘Buy’ recommendations, and estimated three firms can rise more than 60% in the next 12 months.
Why Lam Research stock is a buy before November starts
The first company that appears best invested in before November is Lam Research (NASDAQ: LRCX).
Indeed, Arcuri reiterated his previous ‘Buy’ rating and $425 LRCX stock forecast on October 12, meaning that, in his estimate, the equity can soar 61.02% from its latest closing price of $263.64.
Notably, the company, which focuses on wafer-fabrication equipment and related services for the semiconductor industry, is scheduled to report its earnings on October 21, meaning investors could take advantage of the volatility that could surround the filing.
Finally, along with LRCX stock being comparatively cheap at press time thanks to the brutal correction that has been affecting big tech since October started, traders can have a relatively high degree of confidence in Arcuri’s judgment.
Indeed, the average return from his past recommendations regarding Lam Research shares stands at a respectable 42.35%.
Why Semtech stock is a buy before November starts
Semtech (NASDAQ: SMTC), another company involved with the wider semiconductor industry, boasts the second-highest predicted upside out of all the firms revisited by the UBS analyst in October – a 68.21% rally from $136.73 at the latest close to $230 in 12 months’ time.
SMTC is in a similar position to LRCX in terms of its recent performance, and Arcuri has, so far, had a comparable – though stronger – average return on his predictions regarding the supplier of analog and mixed-signal semiconductors and advanced algorithms.
Indeed, the Wall Street expert has historically been correct regarding Semtech shares 89% of the time for an average 85.42% return, making the technology firm a price candidate for investing before October ends.
Why Micron stock is a buy before November starts
Lastly, the company with the highest predicted upside is simultaneously arguably the most famous of the three: Micron (NASDAQ: MU).
On October 2, UBS’ Timothy Arcuri estimated that MU stock can soar to $1,625 within the next 12 months thanks to the value of memory in an artificial intelligence (AI) inference environment and the company’s generally improving fundamentals.
Considering that Micron shares fell 17.49% month-to-date and 18.24% since the Wall Street analyst made his forecast, a MU investment made close to press time could soar 84.90% in the coming 52 weeks.
Additionally, much like with LRCX and SMTC, Arcuri has been rather successful when predicting the memory giant’s future performance, and his recommendations regarding the company carry an average return of 111.05%.
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