Investors are dealing with challenges ranging from Federal Reserve policies to geopolitical tensions and inflation concerns, J.P. Morgan’s global investment strategist, Madison Faller, offers a glimmer of hope. Despite the economic unrest, Faller suggests that stocks may scale new heights in the coming year. J.P. Morgan analysts recommend two equities for inclusion in your portfolio and Amicus Therapeutics (FOLD:NSD) and DigitalBridge Group (DBRG:NYE) stand out as promising additions. This article will highlight the DBRG and FOLD stock forecast.
Amicus Therapeutics (FOLD)
Amicus Therapeutics, the firm boasts two approved drugs on the market, Galafold and the combination therapy Pombiliti and Opfolda. Moreover, These offerings have paved the way for a consistent revenue stream, with the company reporting $94.5 million in global revenue for 2Q23, surpassing expectations by approximately $4.6 million and marking a 17% YoY increase.
Promising Outlook for 2023
Looking ahead, Amicus anticipates robust growth, forecasting a 14% to 18% revenue increase for Galafold in 2023. This optimistic outlook is underpinned by strong demand and commercial expansion in key markets such as the US, UK, EU, and Japan. Furthermore, regulatory approval from the EU in Q2 for the commercial launch of the Pombiliti+Opfolda combination therapy adds to Amicus’ potential.
JPMorgan’s Positive Assessment:
JPMorgan analyst Anupam Rama is bullish on Amicus, highlighting that “solid execution on the Galafold and Pombiliti+Opfolda should drive value into the mid-to high-teens/share level.” Rama rates FOLD as an “Overweight” (Buy) with a one-year target price of $19, suggesting an impressive 71% upside potential. Bank of America Merrill Lynch raised the target for FOLD stock from USD 16 to USD 19.
FOLD Stock Forecast:
Based on the FOLD stock forecast from two analysts, the average target price is USD 19.00 over the next 12 months. This sentiment aligns with the consensus rating of “Strong Buy.” At the last closing, the stock was trading at USD 10.78.
DigitalBridge Group (DBRG)
DigitalBridge Group, a digital investing firm with 25 years of experience in the digital ecosystem, offers investors exposure to various digital infrastructure assets. The company’s portfolio spans cell towers, small cells, data centers, fiber networks, and edge infrastructure.
Robust Growth Investments:
As of 2Q23, DBRG has invested approximately $4 billion in portfolio growth, with substantial expansion in the data center and tower segments. While global revenues for the second quarter showed a modest 2% YoY increase, the company’s $425 million top line surpassed expectations by more than $125 million. Additionally, DigitalBridge reported $0.06 per share in distributable earnings, comfortably covering the 1-cent dividend for common shareholders.
JPMorgan’s Positive Outlook for DBRG Stock:
JPMorgan analyst Richard Choe sees DigitalBridge as a sound investment, offering exposure to the thriving digital industry. Choe notes, “Investors are looking for focused alternative asset managers, and digital infrastructure is highly attractive given long-term growth prospects, scale, and return potential.” He rates DBRG shares as “Overweight” (Buy) with a $25 price target, implying a substantial 57% upside potential over the next year.
Analyst Consensus:
Based on the DBRG stock forecast from six analysts, the average target price is USD 19.67 accompanied by a consensus rating of “Strong Buy.”However, Stock Target Advisor’s analysts are Bearish, which is based on 3 positive signals and 10 negative signals. At the last closing, the stock price was USD 15.92.
Conclusion:
J.P. Morgan’s optimism highlights potential stock market growth. Amicus Therapeutics and DigitalBridge Group, both rated ‘Strong Buy,’ offer promising opportunities. Amicus, with strong revenue growth and a focus on biotech, promises significant upside. DigitalBridge, with its global digital infrastructure presence, offers indirect exposure to the thriving digital industry. Remember to research and align with your investment goals.
