U.S. stock investors will want to look abroad for greater returns. The iShares MSCI ACWI ex-U.S. ETF (ACWX) , which tracks the All Country World Index but excludes the U.S., is up 6.7% yr thus far. That is higher than the S & P 500’s 5.4% advance. Europe’s key benchmark, the Stoxx 600, can be outperforming with a 9.3% gain. In Asia, Japan’s Nikkei 225 and the Shanghai Composite are each up not less than 7%. Much of that outperformance comes from a lower dollar. Since hitting a multidecade high last yr, the dollar index has lost roughly 9%. Expectations of an economic rebound in China have also bolstered global stocks, because the second-largest economy rolls back stringent Covid-related policies. Given this backdrop, CNBC Pro screened the ACWX for stocks that met the next criteria: Buy rankings from not less than 55% of analyst covering Upside to average price goal of 15% or more Covered by not less than eight analysts Listed on the Nasdaq or Latest York Stock Exchange Listed below are the names that made the cut. Periuvian bank Credicorp made the list. FactSet data shows that 62% of analysts covering the stock rate it a buy, with the common price goal implying upside of greater than 26% over the subsequent 12 months. To ensure, the stock is down 2.8% yr thus far and has fallen greater than 14% over the past yr. Still, Morgan Stanley said Credicorp “stays a top-class banking franchise that would navigate the present difficult based on management’s execution capabilities .” Futu Holdings , a Chinese company that within the digitized brokerage and wealth management space, also made the cut. Nearly 70% of analysts covering the stock rate it a buy, with the common price goal implying upside of roughly 20%. Shares of Futu have been on fire this yr, rallying 23.6%. Over the past 12 months, the stock has surged 49.6%. Legend Biotech , which has operations within the U.S., China and Europe, also made the list. The stock is down greater than 7% in 2023, but analysts expect a turnaround for the corporate soon. The common price goal on Legend Biotech implies upside of 56.6%. Greater than 81% of analysts covering the stock rate it a buy. Streaming company Joyy made the list as well, with nearly 80% of analysts covering the stock rating it as buy. The common price goal on the stock implies upside of 44%. To ensure, the stock has fallen greater than 21% over the past 12 months. The stock could also face further pressure due to a possible U.S. ban on investment in Chinese tech.
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