- There are stocks on Wall Street with price-to-earnings ratios above the 5-year average.
- Furthermore, the vast majority of market analysts do not consider it a buy, quite the opposite.
- On the other hand, these companies are already selling near or above Wall Street’s consensus price target for the next 12 months.
Wall Street has seen big increases so far this year. For example him Nasdaq has increased by more than 31% in 2023, while the S&P 500 is up 16.3%.
Because of this, it is possible that investors will start taking profits, although experts admit that the market could continue to rise.
Nevertheless, there are stocks today whose forward price-to-earnings ratio is well above the five-year average.
In addition, these companies considered “faces Because of their high valuations, they are hated by analysts. Even less than the half These experts rate the stock as a “buy”.
It’s important to clarify that the stocks listed below are already selling near or above Wall Street’s consensus price target for the next 12 months.
The 10 “most expensive” stocks on Wall Street
One of the most famous is certainly Intel which trades at an 86% premium to the stock’s average forward price-to-earnings ratio over the past five years, and little less than a fifth of analysts Covering the share price as a purchase.
On the other hand, the chip manufacturer is considered one of the most expensive stocks on the market and most overvalued in the Dow Jones from technical analysis.
However, the stock has seen a huge rise so far this year, with a Increase of 43.7%. Is it time to sell?
Seagate is the top stock on the list as only 30% of analysts covering the company rate it a buy. Over the past three months, stocks have remained stable and accumulated 22.3% increase in 2023.