Stocks have surged to a new record in what has become one of the fastest recoveries in history.
Since Christmas Eve, when the S&P 500 briefly dropped into bear market territory, the index has climbed 575 points as of Thursday’s close.
Info tech, consumer discretionary, industrials, communication services, and energy have been the top five sectors in this rally, with info tech surging a jaw dropping 37% in just four months. The consumer discretionary and industrials sectors are up just over 30%.
Of the stocks in the S&P 500 that have risen the most since the bottom at the end of December, Coty (NYSE: COTY) is at the top of the list and is up 85%.
The cosmetics maker jumped higher earlier in the year after delivering a better-than-expected earnings report and after a major investor, JAB Holdings, announced a partial tender offer to gain majority control of the company. JAB is known for its ownership of such brands as Panera Bread, Krispy Kreme, and Keurig Dr Pepper.
Coty is still below the $11.65 tender offer from JAB, and if accepted, new money would likely bring new confidence to the brand.
The other top performers have been Chipotle Mexican Grill (NYSE: CMG) and Anadarko Petroleum (NYSE: APC) which are both up 77%, Hess Corporation (NYSE: HES) up 76%, Xerox (NYSE: XRX) up 72%, Arista Networks (NYSE: ANET) up 70%, Advanced Micro Devices (NASDAQ: AMD) up 69%, Cadence Design (NASDAQ: CDNS) up 67%, and IPG Photonics (NASDAQ: IPGP) and MSCI Inc. (NYSE: MSCI), both up 66%.
Of these top ten winners, analysts see the most upside for Coty and Xerox and their average price targets for these stocks would see them rise 16.74% and 17.2% over the next twelve months, respectively.
Netflix (NASDAQ: NFLX) is up a staggering 58% since its late December lows, and is the top performer among the FANG group. Other top performing big names include Hanesbrands (NYSE: HBI), beauty store chain Ulta (NASDAQ: ULTA), and Best Buy (NYSE: BBY), which have risen 61%, 58%, and 55%, respectively.