The week’s gainers include one telecom stock expected to nearly double
The latest U.S. inflation data has sparked a massive rally, putting the S & P 500 on track for a strong weekly performance. The S & P 500 is up about 5.1% week to date. That would be the broader market index’s biggest one-week gain since the week ended June 24, when it jumped 6.5%. On Thursday, the U.S. government said the consumer price index — a widely followed measure of inflation — rose 7.7% in October on a year-over-year basis . That’s less than a Dow Jones estimated gain of 7.9%. The news sparked a 5.5% rally in the S & P 500, its biggest one-day gain since 2020. The Dow Jones Industrial Average also had its best day in more than two years, surging 1,200 points. Given these moves, CNBC Pro screened the S & P 500 for this week’s best performers. The chart below also shows where analysts stand on these names. Dish Network is one of the big winners this week, rallying 21%. The move comes after the company last week reported better-than-expected third-quarter earnings. Dish also said it increased net pay-TV and wireless subscribers despite a difficult environment with inflation hurting consumers. The stock’s run-up may not be done, if analysts are correct. On average, analysts see Dish shares rallying 97% over the next 12 months. More than 62% of those covering the stock also rate it a buy. Solar panel company SolarEdge was the biggest gainer this week, adding 31.5%. The company, which reported third-quarter results Monday, beat revenue estimates while missing on per-share earnings. Analysts see more gains for the company, with the average price target implying upside of about 17%. Just under two-thirds of analysts covering the stock rate it a buy, FactSet data shows. Meanwhile, investing company T. Rowe Price shot up during Thursday’s rally and now stands to end the week up 23.6%. But the stock is not favored by analysts with none rating it as a buy and the average price target showing its value could go down by 29.1%.