Nearly halfway through the year, global stock markets are doing much better than in a turbulent 2022. The S&P 500 is up more than 7 percent so far this year, while the MSCI World Index is up about 8 percent over the same period. Most notably, Japan’s Nikkei hit its highest level since November 24, 2021 on Monday, according to CNBC’s analysis. Many stocks have soared and outperformed, but there is still plenty of room for investors to be bullish. CNBC Pro screens stocks that have outperformed the market nearly halfway through the year — stocks that analysts love. These are the criteria used: Up more than 10% YTD in 2023 and outperform the market At least half of analysts rate the stock a Buy Consensus price target offers at least 20% upside First Citizens BancShares stand out as Best Year – YTD performance (67%), analysts give it a high average potential upside (64%) and the highest Buy rating on the list (83%). It made waves during the regional banking crisis earlier this year when it announced it would buy deposits and loans from Silicon Valley Bank. It bought about $107 billion worth of SVB assets at a discount. Preliminary after-tax proceeds of the bank’s acquisition were $9.82 billion. That boosted the bank’s profits, at least for a quarter. Only one stock has a 100% Buy rating: Kansai Electric Power Co., a nuclear power generation company. U.S. semiconductor company Onsemi also hit the screens, with analysts giving it a potential upside of 28 percent and a buy rating of nearly 60 percent. Bank of America named it a top pick in a May 12 report, calling it a leader in the shift to electric vehicles. “ON stock has been the best performer among auto/industrial peers,” the bank said, noting its year-to-date outperformance. “We view ON Semiconductor as a top-3 global/top-3 US supplier of smart power and sensing chips for electric vehicles, charging/storage infrastructure, autonomous vehicles and factory automation,” Bank of America analysts wrote. Italian bank UniCredit has the biggest upside potential on the list at 85%, along with a decent 88% Buy rating. Among other global stocks, Japanese trading house Mitsui also made the list. It came into the spotlight last month as one of five Japanese trading companies that Warren Buffett’s Berkshire Hathaway increased its stake in. Finally, the Danish pharmaceutical company Novo Nordisk (Novo Nordisk) also appeared on the screen. Citi this month named it one of the best biotech and pharmaceutical companies. — CNBC’s Michael Bloom contributed to this report.
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