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InvestorPlace - Stock Market News, Stock Advice & Trading Tips

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Apple (NASDAQ: AAPL) is donating 10 million surgical masks to healthcare workers in the U.S. fighting the coronavirus pandemic. 

Investors might want to bet on Cable One (CABO), as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.

Investors might want to bet on Darling Ingredients (DAR), as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.

The coronavirus outbreak is shaking our lives. At least 1.7 billion people have been requested to stay home to enforce social distancing and try to slow down its spread.

It might be churlish to suggest there are winners in times of a global pandemic, but it is an unavoidable fact that some companies have benefited from the outbreak. Companies searching for vaccines and those selling hand sanitizer, along with companies with less pertinent issues on their hands, but which fulfill current public stay at home needs are among those to have gained. But none more so than Co-Diagnostics (CODX), a micro-cap healthcare company that has developed a test for the diagnosis of coronavirus. As companies’ valuations have tumbled mercilessly since the outbreak began, CODX shares have soared in the opposite direction. The stock is up by an incredible 919% year-to-date. 

On March 20, the company announced that, as required for FDA Emergency Use Authorization (EUA), its Logix Smart COVID-19 test had successfully completed its clinical evaluation. The test exhibited 100% sensitivity along with 100% specificity in detecting SARS-CoV-2 (COVID-19), and indicated no cross-reactivity with other coronaviruses. In addition to the thousands of laboratories that can now run the company’s test as a clinical diagnostic, the company will immediately begin fulfilling orders from a large number of US customers. 

Along with the US, the test has already been shipped to countries across five continents including heavily hit Italy, as well as Germany, the UK, Turkey, Thailand, Australia, Paraguay, Israel, and Canada, amongst others. 

5-star H.C. Wainwright analyst Yi Chen is encouraged by the test’s “excellent accuracy” and noted, “As the coronavirus spread continues around the world, we expect that Co-Diagnostics’ prompt, accurate and cost-effective testing product should remain its primary top-line growth driver in the near term… In our view, the company is now able to serve the urgent need for rapid and accurate COVID-19 testing in the US, which has been lagging other developed countries on the testing front; the volume of tests shipped to domestic labs should ramp up in the immediate-term.” 

It’s no surprise to learn that Chen reiterated a Buy rating on CODX and kept his price target at $20. The implication for investors? Further upside in the shape of 121% could be in store. (To watch Chen’s track record, click here) 

Based on one other Hold rating published in the last three months, Co-Diagnostics currently has a Moderate Buy consensus rating. The average price target comes in identical to Chen’s at $20. (See Co-Diagnostics stock analysis on TipRanks) 

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, gr

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Investors interested in Food - Miscellaneous stocks are likely familiar with Campbell Soup (CPB) and Lamb Weston (LW). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

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