Stocks to Watch: Paramount, CarMax, and more...

Overvalued Stocks

Inside.com Part of   Network February 04, 2023

Hey Insiders,  The start of this year has seen some significant stock movements. Today we will look at some stocks that have risen to start the year but that Wall Street analysts remain pessimistic about. These are stocks that may have short-term positive momentum but that analysts view as having long-term risks.  Onward and Upward, Liam

Stock to Watch: Paramount Global (NASDAQ: PARA) The stock is up almost 45% so far this year.  Wall Street analysts predict that the stock will fall by 22.6% in the next 12 months.  The company recently announced plans to integrate Showtime and Paramount+. Macquarie downgraded the company to underperform last week.

Stock to Watch: CarMax (NYSE: KMX) The stock is up almost 25% so far this year.  Wall Street analysts predict that the stock will fall by 19.6% in the next 12 months.  The company has been downgraded by JPMorgan, which believes its overvalued as the market hasn't priced in the market risks associated with the company.

Stock to Watch: Carnival Corporation (NYSE: CCL) The stock is up over 40% so far this year.  Wall Street analysts predict that the stock will fall by 8% in the next 12 months.  Morgan Stanley has downgraded the company, expecting it to see a loss this year despite analysts believing that the cruise industry will rise.

Stock to Watch: CH Robinson Worldwide (NASDAQ: CHRW) The stock is up over 10% so far this year.  Wall Street analysts predict that the stock will fall by 8% in the next 12 months.  The company reported its earnings last week, which were lower than expected as it is struggling to deal with declining consumer spending.

Stock to Watch: T. Rowe Price Associates (NASDAQ: TROW) T. Rowe Price is a financial company. The stock is up over 10% so far this year.  Wall Street analysts predict that the stock will fall by 22.4% in the next 12 months.

Stock to Watch: Nucor Corporation (NYSE: NUE) The company is a non-energy materials company. The stock is up almost 35% so far this year.  Wall Street analysts predict that the stock will fall by 17.8% in the next 12 months.

Stock to Watch: Franklin Resources Inc. (NYSE: BEN) Franklin is a financial company.  The stock is up over 20% so far this year.  Wall Street analysts predict that the stock will fall by 19% in the next 12 months.

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Liam Gill is a founder, lawyer and investor. He previously founded Fumarii Technologies, which became a top 20 ranked cloud computing service (Yahoo Finance! 2019) valued at over $30M. He holds an LLB Laws (UK), MSc Management and Master of Laws and currently practices law in Vancouver, Canada.   Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords.

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