Sign up for our MoneyWise newsletter to receive a steady flow of actionable ideas from Wall Street's top firms.

ChargePoint Holdings (CHPT)

Electric vehicles are selling like hotcakes. And ChargePoint Holdings is solidly positioned for the EV boom.

The company has one of the largest EV charging networks in the world. It has around 5,000 commercial and fleet customers, including 76% of Fortune 50 companies. Since its inception, ChargePoint has delivered more than 105 million charging sessions.

Of course, EV stocks haven’t been market darlings lately and this EV infrastructure play was caught in the sell-off as well. ChargePoint shares have fallen 48% over the last 12 months.

That could give bargain hunters something to think about.

In the fiscal year ended Jan. 31, ChargePoint generated $242.3 million of revenue, marking a 65% increase year over year. This was driven by a 90% increase in networked charging revenue and a 32% increase in subscription revenue.

JPMorgan analyst Bill Peterson has an ‘overweight’ rating on ChargePoint and a price target of $18 – roughly 34% above where the stock sits today.

More: What are dividend-paying stocks

Join Masterworks to invest in works by Banksy, Picasso, Kaws, and more. Use our special link to skip the waitlist and join an exclusive community of art investors.

Skip waitlist

Nvidia (NVDA)

As a leading manufacturer of graphics cards, Nvidia shares have had a solid bull run over the past decade. But that rally came to an abrupt end in November 2021. Since reaching a peak of $346 in late November, the stock has fallen about 45%.

Nvidia’s plunge is substantial even when compared to other beaten-down stocks in the semiconductor sector.

Nvidia’s business is performing well, making it a particularly intriguing contrarian idea. The chipmaker generated $8.29 billion of revenue in its fiscal Q1. The amount represented a 46% increase year over year, and also marked a new quarterly record.

Revenue from gaming increased 31% year over year to a record $3.62 billion. Meanwhile, data center saw its revenue spike 83% to a record $3.75 billion.

JPMorgan analyst Harlan Sur recently lowered the price target on Nvidia from $350 to $285. However, Sur maintained an overweight rating on the shares and the new price target still implies potential upside of 51%.

More: How much money do you need to retire?

Magellan Midstream Partners (MMP)

Unlike the previous two, Magellan Midstream Partners is not an out-of-favor stock. It’s actually up 9% year to date, outperforming the broad market.

It’s easy to see why Magellan gets positive attention these days. The energy sector is firing on all cylinders, and Magellan’s midstream operations are well-positioned for this commodity cycle.

The partnership has 9,800 miles of refined products pipelines, 54 connected terminals, and two marine storage terminals. It also owns around 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 39 million barrels.

Magellan is a name worth watching for income investors, too. The partnership pays quarterly distributions of $1.0375 per unit, translating to a juicy annual yield of 8.1%. Management expects Magellan to generate enough cash to cover its payout 1.24 times this year.

Last week, JPMorgan analyst Jeremy Tonet upgraded Magellan from neutral to overweight. He also raised the price target to $57 – implying a potential upside of 12%.

Sign up for our MoneyWise newsletter to receive a steady flow of actionable ideas from Wall Street's top firms.

Fine art as an investment

Stocks can be volatile, cryptos make big swings to either side, and even gold is not immune to the market’s ups and downs.

That’s why if you are looking for the ultimate hedge, it could be worthwhile to check out a real, but overlooked asset: fine art.

Contemporary artwork has outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart.

And it’s becoming a popular way to diversify because it’s a real physical asset with little correlation to the stock market.

On a scale of -1 to +1, with 0 representing no link at all, Citi found the correlation between contemporary art and the S&P 500 was just 0.12 during the past 25 years.

Earlier this year, Bank of America investment chief Michael Harnett singled out artwork as a sharp way to outperform over the next decade — due largely to the asset’s track record as an inflation hedge.

Investing in art by the likes of Banksy and Andy Warhol used to be an option only for the ultrarich. But with a new investing platform, you can invest in iconic artworks just like Jeff Bezos and Bill Gates do.

About the Author

Jing Pan

Jing Pan

Investment Reporter

Jing is an investment reporter for MoneyWise. Prior to joining the team, he was a research analyst and editor at one of the leading financial publishing companies in North America. An avid advocate of investing for passive income, he wrote a monthly dividend stock newsletter for the better half of the past decade. Jing holds a Master’s Degree in Economics and an Honours Bachelor of Science Degree, both from the University of Toronto.

What to Read Next

Disclaimer

The content provided on MoneyWise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.