All of the companies we follow here at 24/7 Wall St. maintain a list for their institutional and retail clients of high conviction stock picks. These are usually the stocks that they like not only in the longer term, but also those that tend to have a large rise above the assigned target price. With 2021 almost over and the new year fast approaching, many analysts have tweaked their rosters to reflect the potential changes 2022 could bring.
Each Raymond James analyst who contributes to the company’s analysts favorite buy list must provide a choice in their coverage area to be included on the list. Therefore, each is considered a preferred choice.
We’ve sifted through the list for stocks that should perform well in an inflationary environment, like the one many of us are currently experiencing. Typically, durable assets such as real estate investment trusts (REITs) are favorable, along with dividend-paying commodity stocks. We found five that are all rated Strong Buy at Raymond James.
It is important to remember that no analyst report should be used as the sole basis for any buy or sell decision.
This company was long seen as an industry leader when it was known as Apache, and the stock offers perhaps one of the best entry points in the industry. APA Corp. (NYSE: APA) explores and produces oil and gas properties. It operates in the United States, Egypt and the United Kingdom, as well as exploration activities off Suriname. It also operates collection, processing and transmission assets in West Texas, and owns four pipelines from the Permian to the Gulf Coast.
The company is one of the largest exploration and production companies in the United States, with 2.3 billion barrels of oil equivalent of proven reserves (63% liquids). This is an explorer, acquirer and exploiter, a fiscally conservative company that has increased its reserves and production steadily through acquisitions and organic projects.
Investors in APA shares receive a dividend of 1.87%. Raymond James’ price target is $ 45, well above the consensus target of $ 27.63. The share price climbed more than 7% to close at $ 27.97 on Monday after the company signed a massive deal with Egypt.