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These stocks won earnings season and are expected to rally further — including one by nearly 50%


Stocks rose across the board last month on the back of better-than-expected quarterly results, but CNBC Pro found some companies that absolutely won earnings season. These stocks led the rally during earnings season, and are expected to build on that momentum from here. What’s more? They’re adored by analysts, even as Wall Street at large continues to contend with recession and inflation concerns. Stocks that surfaced in our screen jumped by at least 10% since the start of earnings season. Earnings-per-share growth expectations increased, and are now predicted to rise more than 10% for these names. They’re also expected to climb more than 10% over the next 12 months based on the consensus price target of analysts. What’s more, a majority of analysts are telling investors to buy now. Here are 7 stocks that crushed earnings season. Chipotle Mexican Grill may have rallied roughly 24% since the start of earnings season, but the stock is expected to climb 11% further from here, according to consensus price targets from FactSet. The burrito chain signaled in its second quarter earnings report that it has the pricing power to increase menu prices to cover rising food costs, given that the bulk of its core customer earn higher household incomes. Shares of Microchip Technology are up nearly 23% during earnings season, and Wall Street expects that the microcontroller manufacturer can advance another 18%. Microchip beat profit and revenue estimates in its second quarter earnings report, as compared to consensus estimates from FactSet. Shares are down 17% this year. Ametek , an electronic instruments manufacturer, gained 14% this earnings season, and is expected to surge nearly 18% to its price target. Ametek exceeded expectations on the top and bottom lines, according to consensus estimates from FactSet. Shares are down 15% year to date. SolarEdge Technologies , Generac , Equinix and Marathon Petroleum also made the list. Generac, a maker of generators, is set to rally by 48% over the next 12 months according to analysts.

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