3 Stock-Split Stocks Set to Soar by as Much as 101% From Their 52-Week Lows, According to Wall Street
If just two themes have defined the stock market in 2022, those themes would be stock splits and the bear market. Both have disproportionately affected the technology sector, with some of the largest tech companies in the U.S. opting for stock splits to reduce their high share prices, and the Nasdaq-100 tech index bearing the brunt of the broader market losses.
Palo Alto Networks (NASDAQ: PANW), Shopify (NYSE: SHOP), and Tesla (NASDAQ: TSLA) have all conducted stock splits this year, and each stock has touched its 52-week low within the last four months. Still, Wall Street analysts are quite bullish on all three, which begs the question: Should you follow Wall Street's lead and buy the dip on these stock split stocks?
Anthony Di Pizio (Palo Alto Networks): Palo Alto Networks' stock price hit a 52-week low of $140.52 in May, and while it has since bounced to $184.37, Wall Street investment bank Morgan Stanley is betting it could soar to $274.33. That represents an upside of 49% from where it trades today. If it gets there, that would also be a tidy gain of 95% from its 52-week low.
Source Fool.com
