3 Large-Cap Stocks to Buy on the Dip

The unpredictability of the stock market makes large-cap stocks that much more appealing. The large-caps that have recently pulled back are particularly attractive considering the market’s fluctuations…

Sort through some large-caps that have dipped in prior weeks, and you will find some intriguing names on the list. However, there aren’t enough hours in the day to perform a deep dive into each of these candidates.

Below, I provide a look at three large-cap stocks worth buying on the dip: Eli Lilly and Company (LLY – Get Rating), United Microelectronics Corporation (UMC – Get Rating), and Salesforce.com (CRM – Get Rating).

Eli Lilly and Company (LLY – Get Rating)

LLY is one of the top pharmaceutical companies in the world. While many other pharmaceutical businesses struggle to get products out of the development stage and onto store shelves, LLY has an entire lineup of proven successful drugs. In short, the LLY pipeline is proven to work. LLY pharmaceutical products help those struggling with everything from diabetes to neurological issues, oncological problems, and other medical challenges.

LLY has a forward P/E ratio of 22.66. This means LLY is reasonably priced at its current trading level of $186 and change. Even if LLY were to move back to its 52-week high of $218, its forward P/E ratio would still be reasonable.

LLY is a POWR Ratings stud with an overall grade of A, indicating it is a Strong Buy. LLY has B grades in the Quality, Value, and Growth components of the POWR Ratings. If you are curious about how LLY fares in the Sentiment, Stability, and Momentum components of the POWR Ratings, click here to find out. Out of 239 publicly traded companies in the Medical – Pharmaceuticals industry, LLY is ranked fifth. Click here to find other top stocks in this industry.

Analysts paint a rosy picture for LLY, setting an average target price of $216.14. If LLY ascends to this price, it would have spiked by more than 5%. The highest analyst target price for LLY is $256, while the lowest target price is $170. Of the 21 analysts who have issued recommendations for LLY, four consider it a Strong Buy, eight consider it a Buy, and nine consider it a Hold. LLY is all the more tempting now that it has a weight loss drug in the works.

Click here to checkout our Healthcare Sector Report for 2021

United Microelectronics Corporation (UMC – Get Rating

UMC’s specialty is foundry services for semiconductors. UMC makes integrated circuit wafers made in accordance with each customer’s specific needs. This industry trailblazer also provides services, including front-end/backend support, design libraries, and IP resources.

UMC is a Strong Buy in the POWR Ratings, highlighted by B grades in the Quality, Growth, and Momentum components. Click here to learn more about how UMC fares in the Value, Stability, and Sentiment components. Of the 99 stocks in the Semiconductor & Wireless Chip industry, UMC is ranked third. Click here to find other top stocks in the Semiconductor & Wireless Chip industry.

UMC brass recently announced the…

Continue reading at STOCKNEWS.com


You May Also Like

About the Author: admin