One thing is certain these days, and that’s uncertainty. Markets remain volatile, as a series of data releases have investors somewhat unsure whether high inflation, rising interest rates, or a possible recession – or perhaps all three at once – will come to dominate the forecasts. The result: day-to-day price swings and sharp changes that make predictions a risky business.
Not every economist, however, is willing to throw in the towel, and the difficult market environment hasn’t put the scare on John Stoltzfus. The chief investment strategist from Oppenheimer remains bullish on stocks, and in his monthly report on market strategy, he lays out why.
“Our longer-term outlook for the US economy and the stock market remains decidedly bullish. We believe US economic fundamentals remain on solid footing. Once inflation begins to moderate, US growth should begin to recover, supported by consumer demand and business investment,” Stoltzfus opined.
Acknowledging the current volatility, and the high risk of a dangerous economic recession, Stoltzfus goes on to say, “We can’t say that the market has bottomed at these levels or that the bear market might not grind on for some time to come, but with so much bad news already priced in, the potential rewards of investing at these levels are looking more attractive relative to the risks.”
Taking Stoltzfus’ outlook into consideration, we wanted to take a closer look at three stocks earning a round of applause from Oppenheimer, with the firm’s 5-star analysts forecasting over 30% upside potential for each. Using TipRanks’ database, we learned that the rest of the Street is in agreement, as all three boast a “Strong Buy” analyst consensus.
CSG Systems International (CSGS)
The first Oppenheimer pick is CSG Systems International, a software and services company in the business support systems (BSS) niche. CSG’s platforms, available on the SaaS model, offer a wide range of functions, including revenue management and monetization, wholesale and partner management, and payment and merchant services. The company…