A pause in trading on Wall Street on Monday for the Memorial Day holiday doesn’t mean investors need to wait to find summer stock plays. Despite an uncertain macroeconomic backdrop and a continuing debt ceiling crisis, consumers’ spending remains resilient , which some economists say is enough to stop the economy from slipping into a recession. Prices for hotel rooms and airfare are expected to be high this summer, as consumers’ demand for travel shows no signs of abating. The continued willingness to spend and make travel plans could benefit a swath of stocks within the Invesco Dynamic Leisure and Entertainment ETF (PEJ) . CNBC Pro used FactSet data to screen for stocks inside the fund that have an average upside of more than 10% from price targets set by analysts, while at least 60% of analysts rate the shares as a buy. Shares of Las Vegas Sands are up 16% from the start of the year. The company also beat on earnings in April , reporting an adjusted 28 cents per share against analyst estimates of 20 cents, according to Refinitiv. Nearly 79% of analysts polled by FactSet rate the stock as a buy, while the mean price target implies about 27% upside. The company also just received approval for a long-term lease for a casino in Nassau County, New York. LVS YTD mountain Las Vegas Sands stock. Liberty Media’s Formula One Group has added roughly 19% from the start of 2023. Analysts’ mean price target implies 11.4% upside for the stock, while 64.3% of analysts covering Formula One Group rate it as a buy. The renowned Formula 1 racing segment made headlines Tuesday after Honda announced plans to partner with the Aston Martin team in 2026. FWONK YTD mountain Liberty Media Group stock. Yum China has so far posted a more muted performance in 2023 with a 4.6% gain. Shares have lost more than 7% in the past month as China once again contends with rising Covid infections, which are complicating reopening efforts. Still, 66.7% of analysts polled by FactSet rate the stock as a buy. Average analyst price targets imply nearly 27% upside for shares of Yum China. YUMC YTD mountain Yum China Holdings stock.
This story originally appeared on CNBC
