Analysts are betting on stocks like Apple and Disney

This earnings season, investors have to balance spiking coronavirus levels against encouraging vaccine progress as well as rising trade tensions with China.

In this unprecedented time, it makes sense to follow the stock picks of analysts with a proven track record of success.

We used TipRanks analyst forecasting service to pinpoint Wall Street’s best-performing analysts. These are the analysts with the highest success rate and average return measured on a one-year basis- and factoring in the number of ratings made by each analyst.

Here are the best-performing analysts’ six favorite stocks:

On July 16, five-star Canaccord Genuity analyst Michael Walkley reiterated his Apple buy rating, while significantly ramping up the price target from $310 to $444. Despite Apple rising 33% year-to-date, his new stock price forecast still indicates 14% upside from current levels.

Walkley cites the 5G upgrade cycle as a likely catalyst in 2021 as well as a continued business mix shift towards high-margin services as behind his increasingly bullish take on the stock.

Apple’s ecosystem approach, including an installed base of more than 1.5 billion devices, should continue to generate strong services revenue, says Walkley. He sees the higher-margin services revenue growth ultimately outpacing total company growth while delivering strong attach rates for multiple hardware purchases. That’s alongside a market share leading position in wearables with Watch and AirPods, and $83 billion in net cash to invest in long-term growth.

“Ahead of the Covid-19 shock to global economies, we were encouraged by the strong demand for the iPhone 11 lineup and believe Apple will maintain its market share leadership of premium-tier smartphones that should expand with its iPhone 12 lineup supporting 5G along with other strong features,” the analyst told investors. 

One of TipRanks’ Top 100 analysts, Walkley scores a stellar 17.1% average return per recommendation.

Shares in Akebia have almost doubled year-to-date, and with good reason, says HC Wainwright analyst Ed Arce. He reiterated a buy rating on the biopharma on July 15, citing a new study evaluating vadadustat for coronavirus-related acute respiratory distress syndrome.

The investigator-sponsored, placebo-controlled study is conducted under an investigational new drug application filed with the Food and Drug Administration for up to 300 adult patients with coronavirus related hypoxemia. Hypoxemia is a below-normal level of oxygen in the blood, that can signal breathing or circulation-related difficulties.

Arce believes Akebia’s lead product candidate vadadustat could be…