3 Stocks Earning Rare “Triple Upgrades” from Major Brokerages

Title: Major Brokerages Upgrade Stocks Amidst Positive US Stock Market Outlook

As the US stock market outlook brightens with expectations of Federal Reserve rate cuts, major brokerages are beginning to upgrade stocks that have recently struggled. This trend is fueled by the anticipation of rate cuts overshadowing the gloomy outlook following April’s higher-than-expected Consumer Price Index (CPI) report.

One notable trend emerging is the distribution of rare ‘triple upgrades’ by major brokerages to high-potential stocks. Triple upgrades signify a significant shift in a stock’s performance trajectory, indicating a change in fortune or consistent outperformance.

Among the top examples of triple-upgrade stocks are Lululemon (LULU), Nvidia (NVDA), and Alphabet (GOOG, GOOGL).

Lululemon, despite a 40% decline in the first two quarters of 2024, has shown resilience with better-than-expected earnings and revenue in Q1. The company’s international expansion and upcoming Paris Olympic Games positioning it for a rebound.

Nvidia, a semiconductor giant, has experienced remarkable growth in 2024, with expectations of leading the next generation of the internet. Despite recent struggles, the upcoming launch of its Blackwell platform could propel the stock to new heights.

Alphabet, Google’s parent company, has shown impressive growth and a commitment to innovation, evidenced by a $2.3 billion investment in data centers. With the development of its Gemini model and focus on AI technology, Alphabet is poised to solidify its position as a market leader.

Investors are closely watching these triple-upgrade stocks as they represent opportunities for significant growth and long-term potential in the evolving market landscape.