Wedbush’s 6 Best Idea Stocks for 50% Upside (or Much More)

[cnxvideo id=”655222″ placement=”ros”]Markets recently reached their all-time highs and have pulled back slightly, with the Dow Jones Industrial Average just crossing under 20,000 after it made historic run. Some analysts are taking this opportunity to search for the growth stocks that will keep this rally going, and one key analyst believes it has a few big winners pegged.

Wedbush has issued a report on some of its best ideas for 2016. 24/7 Wall St. has picked out the top six ideas from this list that have an implied upside of at least 50%. The brokerage firm noted quite a few names, but these represented a relatively diverse mix, from gaming stocks to pharmaceuticals.

We have included Wedbush’s calls, as well as some color on each stock, such as a recent trading history and the consensus price target.

Zynga Inc. (NASDAQ: ZNGA) has an Outperform rating with a $4.25 price target, implying upside of 65% from Friday’s close of $2.57. Shares of Zynga closed Monday still in that ball park, at $2.60, with a consensus analyst price target of $3.27 and a 52-week trading range of $1.78 to $3.08.

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Wedbush issued an Outperform rating with a $24 price target for Ardelyx Inc. (NASDAQ: ARDX). This implies upside of 94% from Friday’s closing price of $12.35. Ardelyx shares now have slipped to $11.70. They have a 52-week trading range of $6.36 to $16.30 and a consensus price target of $19.71.

Builders FirstSource Inc. (NASDAQ: BLDR) was given an Outperform rating with an $18 price objective, compared with an $11.38 prior close, which implies upside of 58%. Shares of Builder were last seen at down to $10.86. The stock consensus price target is $14.28, and the 52-week range is $6.50 to $14.09.

The Outperform rating on Lexicon Pharmaceuticals Inc. (NASDAQ: LXRX) comes with a $33 price target. That price target implies upside of 137% from Friday’s closing price of $13.90. Here too shares retreated on Monday, to $13.68, in a 52-week range of $7.65 to $19.62. The consensus analyst target is $24.67.

NovoCure Ltd. (NASDAQ: NVCR) also has an Outperform rating. Its $20 price target compares with a $6.25 Friday closing price. That implied upside of 220% increased on Monday as shares ended the day at $6.10. The consensus price target is $23.25, and the 52-week range is $5.95 to $18.72.

And finally, Quotient Technology Inc. (NYSE: QUOT) was issued an Outperform rating and a $16 price target. This implies upside of 51% from Friday’s closing price of $10.60. Shares of Quotient were last seen at $10.50. The consensus price target is $15.17, and the 52-week range is $5.04 to $14.36.

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