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As the Dow Jones Industrial Average looks to climb back into positive territory for the year, certain stocks will lead the way, according to analysts. The blue-chip index turned red for 2023 on Thursday as investors worried about the health of regional banking and weighed the effects of the Federal Reserve’s most recent rate hike . Among the index’s biggest losers were Disney , American Express , Goldman Sachs and Boeing . To see which names could pull the Dow back into the black, CNBC Pro looked at how much analysts, on average, expect each stock in the average to rise over the next 12 months. Here are the top 10 names with the largest upside to the average price target, according to data pulled from FactSet. While Disney saw the largest percentage loss in the Dow on Thursday, it is also the stock poised to lead the benchmark higher. The parent of ESPN and ABC has 28.5% upside to the average analyst price target. Disney is in the midst of a large restructuring, which will eliminate $5.5 billion in costs. Last week, the theme park operator began its second wave of layoffs , which will eventually total 7,000 after a third round this summer. Among those bullish on Disney is Evercore ISI, which reiterated its outperform rating on Tuesday ahead of Disney’s earnings next week. “We believe DIS could see upside to FY23 estimates later in the year as cost cutting measures progress faster than originally expected,” analyst Vijay Jayant wrote in a note. “There is also likely ~7% upside to FY24 [earnings] consensus if macro holds up as expected (ad recovery in H2 CY23 and no macro impact on theme parks), however, there is ~8% downside if the macro environment deteriorates.” DIS YTD mountain Disney year to date Shares of Disney are up nearly 12% year to date. Meanwhile, Walgreens Boots Alliance has nearly 27% upside to the average analyst price target. The drugstore chain and health-care company beat expectations when it reported fiscal second quarter earnings in late March. While its quarterly profit fell more than 20%, thanks to lower Covid vaccine volumes and test sales compared to last winter, its revenue grew 3.3% year over year . Walgreens has been focusing on growing its in-home and primary care services . It owns a majority of VillageMD and is investing $3.5 billion into VillageMD’s acquisition of primary care provider Summit Health. The stock has lost almost 16% so far this year. Four financial companies made the list, including American Express and Goldman Sachs. The pair are also among the biggest Dow losers on Thursday. American Express can rally 23.5%, while Goldman Sachs has 21% upside, according to analysts’ average price targets. AXP YTD mountain American Express year to date Last month, American Express reported an earnings miss for the first quarter, but its revenue beat expectations, per Refinitiv. Goldman Sachs, however, missed on revenue thanks to a $470 million loss on the partial sale of its Marcus loans portfolio. Goldman’s adjusted earnings per share came in at $9.87, topping the $8.10 expected from analysts polled by Refinitv. American Express is essentially unchanged for the year, while Goldman Sachs is down 6.5%. — CNBC’s Michael Bloom contributed reporting.
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