'He said long term, so this is an investment that is not an instant profit.'
Closing the curtain of the 3rd quarter (Q3), Wall Street's main indices saw losses due to the rise in bond yields after the Federal Reserve (Fed) raised interest rates to curb soaring inflation.
As a result, investors are seen to be more careful in choosing investments, especially on risky assets, given the uncertain market conditions.
However, there are some stocks that are rated as having the best long-term prospects according to Wall Street analysts.
Follow the list of Wall Street analysts' preferred stocks below.
GXO Logistics
This firm takes advantage of an unexplored field in the transport sector, reverse logistics (delivery of goods from the consumer back to the seller).
The exploration led to the acquisition of Clipper Logistics to strengthen their position as a leader in the field of reverse logistics.
However, the macroeconomic turmoil in Europe and the United States threatened the firm's accounts because their sales were based on foreign currencies.
Nevertheless, Cowen's Jason Seidl assigns a 'buy' status to the firm based on the quality of its long-term reverse logistic leader status.
TD Synnex
With the trend of work from home and IT-based businesses increasing, this technology service firm is expected to continue to be the choice.
Although it cannot avoid macroeconomic problems, its quarterly results beat all market forecasts.
Additionally, the firm's merger with Tech Data last year is expected to continue to support strong revenue performance and cost synergies.
On that factor, Barrington Research's Vincent Colicchio avoids 'buy' status and bets the company will hit its $200 million cost synergy target.
Alphabet
Ahead of the 'Made By Google' event, the firm is expected to launch new devices and to some extent can cover the fall in shares on Wall Street.
It is also not forgotten that the firm is a leader in digital advertising, its involvement in cloud computing and digital transformation.
The streak, Brian White of Monness Crespi Hardt described the firm as having a bullish long-term outlook despite the device market being dominated by Apple.
Meanwhile, White maintains a $145 price target on Google shares.
Edison International
These energy firms are seen to be successfully weathering the macroeconomic turmoil with their achievements in dealing with the heat wave issue in the US recently.
As a result, Shelby Tucker from RBC Capital is confident that there will be a growth in electricity consumption of 60% by 2030 and 2045.
Tucker comments that high consumption from electrification will likely be offset by distributed generation, batteries and energy efficiency measures.
So the $82 price target maintained by Tucker is maintained with the prospect of them being an attractive choice for major players to invest in community electrification.
