2 A-Rated Stocks That Could Soar 80% or More, According to Wall Street By StockNews

While concerns over a resurgence of COVID-19 cases and historically-high inflation have fostered stock market volatility, solid third-quarter corporate earnings and strong retail sales should support the benchmark indexes. So, we think it could be wise to bet on quality stocks Safe Bulkers (NYSE:) and Cumulus Media (NASDAQ:), which are expected to rally by more than 80% in price, according to Wall Street analysts. Also, these stocks are rated A (Strong Buy) in our proprietary rating system. So, let’s examine these names.The equity market remains volatile due to the resurgence of COVID-19 cases in Europe and the historically high inflation in the United States. Austria recently announced that it would reimpose a national lockdown due to rising COVID-19 cases. And U.S. consumer confidence plunged to a 10-year low in November, reflecting heightened inflation concerns. However, S&P 500 and Nasdaq have been hovering near their all-time highs lately thanks to strong corporate earnings and investors’ optimism about retail sales.

According to the U.S. Commerce Department, retail sales rose a seasonally adjusted 1.7% in October. In addition, the national unemployment rate fell to 4.6% in October, the lowest level since the economic recovery began in May 2020. Furthermore, Goldman Sachs (NYSE:) expects the economic recovery to reaccelerate in the coming quarters, driving the unemployment rate back to a 50-year low by the end of next year.

Against this favorable backdrop, we think it could be wise to bet on fundamentally strong stocks Safe Bulkers, Inc. (SB) and Cumulus Media Inc. (CMLS). These stocks are rated A (Strong Buy) in our proprietary rating system, and Wall Street analysts expect them to rally more than 80% in the near term.

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