Merrill Lynch Gets More Bullish on 8 Top Stocks

By Chris Lange Updated Jan 12, 11:21AM EST · Published Jun 5, 12:50PM EDT

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Merrill Lynch Gets More Bullish on 8 Top Stocks — © Thinkstock

Having a long-term perspective on the market is generally a good idea. It’s better to look past what could be a rocky path in the short-term if gains can be realized down the road. On principle, Merrill Lynch created a list just last year of stocks that it thinks will outperform in the longer term.

Just recently, Merrill Lynch updated its Bull Trenders List and added a few new companies into the mix. 24/7 Wall St. has taken a quick look at these companies and added some additional color.

For some background: Bull Trenders is Merrill Lynch’s technical analysis best long ideas list, which was introduced in September 2016. This list identifies its most technically favored Buy- or Neutral-rated stocks in the S&P 1500. The goal of this list is to outperform the S&P 500 over the long term. When selecting stocks for the Bull Trenders List, the brokerage firm relies on both absolute and relative trends (versus the S&P 500 or any other benchmark) and looks for confirmation and sometimes divergences between the two.

AmerisourceBergen Corp. (NYSE: ABC) sources and distributes pharmaceutical products in the United States and abroad. The company has a total market cap of $20.3 billion. Shares were trading at $93.03 on Monday, with a consensus analyst price target of $93.07 and a 52-week trading range of $68.38 to $94.50.

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American International Group Inc. (NYSE: AIG) sells and provides insurance products for commercial, institutional and individual customers in the United States, Europe and Japan. AIG has a market cap of $59.2 billion. The stock was recently trading at $63.99, with a 52-week range of $48.41 to $67.47 and a consensus price target of $68.80.

Huntington Ingalls Industries Inc. (NYSE: HII) is known for designing, building and repairing ships in the United States. The company has a market cap of $8.8 billion. Shares were changing hands at $191.42, with a consensus price target of $210.42 and a 52-week range of $146.52 to $220.68.

Henry Schein Inc. (NASDAQ: HSIC) provides health care products and services across a wide spectrum. It has a total addressable market cap of $14.7 billion. Its shares were trading at $185.45, with a consensus analyst target of $183.92 and a 52-week range of $146.23 to $186.71.

Altria Group Inc. (NYSE: MO) is one of the largest cigarette manufacturers in the United States. Shares of Altria traded at $75.01, with a 52-week range of $60.82 to $76.55 and a consensus price target of $74.31. The market cap is $144.9 billion.

Synovus Financial Corp. (NYSE: SNV) is the bank holding company for Synovus Bank, which provides various financial products and services. Shares were last seen at $41.63, with a consensus price target of $44.50 and a 52-week range of $26.90 to $44.09. Synovus has a market cap of $5.1 billion.

Sempra Energy (NYSE: SRE) operates as a utility company that deals in North and South America. The company has a market cap of $29.5 billion. The stock was trading at $117.44, with a consensus price target of $119.27 and a 52-week range of $92.95 to $117.92.

United Continental Holdings Inc. (NYSE: UAL) operates one of the largest airlines in the United States and provides service across the globe. Shares of United Continental were trading at $81.76, with a consensus price target of $86.38 and a 52-week range of $37.41 to $83.04. It has a market cap of $25.3 billion.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.