3 New Strong Buy Ratings from Top-Rated Analysts [11/21/2024]

Today's Strong Buys are a diverse bunch, including a price target upgrade on Cirrus Logic (CRUS) following the company's earnings report, Performance Food Group (PFGC), which just completed a noteworthy acquisition, and Tapestry (TPR), following the termination of a M&A deal that analysts believe is in the company's best interest.

These picks were sourced from WallStreetZen's Top Analysts feature, which gives you access to high-conviction stock ratings from the best stock analysts in the world. Gain access to dozens of alerts like this per week 👉👉 Try WallStreetZen Premium

1- Cirrus Logic Inc. (NASDAQ: CRUS)

Analyst/Firm: Christopher Rolland / Susquehanna

Analyst ranking:  Top 1% / average return +24.8% / win rate 55% 

Latest price: Click here

Price target:  $140.00 

• Maintaining a Strong Buy rating, Susquehanna's Christopher Rolland raised their price target on Cirrus Logic (NASDAQ: CRUS) by 3.7% from $135 to $140 on 11/18.
• Cirrus Logic last reported earnings on 11/4.
• Rolland backgrounded their price target hike by saying that "they are excited by the company's near-term PC opportunity, overlaid by the longer-term AI opportunities in power and audio."
• Could CRUS see 60%+ upside in the coming year? Let’s consult the pros.

2- Performance Food Group Co. (NYSE: PFGC) 

Analyst/Firm: Brian Mullan / Piper Sandler

Analyst ranking: Top 3% / average return +26.81% / win rate 77% 

Latest price: Click here

Price target: $92.00 

• Maintaining a Strong Buy rating, Piper Sandler's Brian Mullan raised their price target on Performance Food Group Co (NYSE: PFGC) by 16.5% from $79 to $92 on 11/18.  
• Performance Food Group Co reported its Q1 2025 earnings on 11/6.
• Mullan told readers they revised their model to reflect management's new FY 2025 guidance, which accounts for the company's recently completed Cheney Brothers purchase.
• See why 7 analysts rate PFGC a Strong Buy.

3- Tapestry Inc. (NYSE: TPR) 

Analyst/Firm: Ike Boruchow / Wells Fargo

Analyst ranking: Top 12% / average return 5.19% / win rate 53% 

Latest price: Click here

Price target: $75.00 

• Maintaining a Strong Buy rating, Wells Fargo's Ike Boruchow raised their price target on Tapestry (NYSE: TPR) by 15.4% from $65 to $75 on 11/15. 
• Tapestry announced the termination of its M&A deal with Capri Holdings on 11/14.
• Tapestry has announced a $2B repurchase program and is redeeming the acquisition debt, which should increase EPS by at least $0.75, Boruchow told investors.
• As a result, the analyst predicted FY 2026 EPS power of $6.00 for Tapestry and a valuation increase of up to 15x, leading to a $90 near-term bull case.

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