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There's a growing dominance of technology stocks in the stock market. Using LSEG, we searched for stocks outside the concentrated tech universe that are expected to reach new highs. Citizens Financial has a forward P/E ratio of 12.1 and five-year P/E of about 15, while Fifth Third's forward P/E is 11.1 and its five-year slightly lower, at about 10.8. Analysts polled by LSEG think shares have about 18% upside potential, and the stock also has an attractive forward P/E ratio of about 4.77, by far the least of the group. Other attractive stocks that could reach new highs include homebuilder Pultegroup and insurance company Allstate .
Persons: Stocks, Dow, Ryan Grabinski, Kevin Holt, Wolfe, Bill Carache, Carache, General Motors, LSEG Organizations: Nasdaq, Nvidia, Microsoft, Apple, Strategas Securities, CNBC, Oil, Chevron, Exxon Mobil, Invesco Energy, Exxon, ConocoPhillips, Marathon, Citizens Financial Group, Fifth Third Bancorp, Financial, Fifth, Wolfe Research, Automotive, General, Allstate Locations: Guyana, Chevron
First Republic 's stock is unlikely to see a significant rebound after the regional bank suffered major outflows of deposits, according to Morgan Stanley. The stock was trading near $115 per share before troubles emerged at the now failed Silicon Valley Bank, sparking a sell-off in regional bank stocks. FRC 1M mountain First Republic's stock has fallen sharply since the start of the regional banking crisis. Based on borrowing from the Federal Reserve that First Republic disclosed last week, deposit outflows at First Republic may have been roughly $86 billion, Morgan Stanley estimated. The outlook for First Republic is still highly uncertain, Gosalia said, and Morgan Stanley has an underweight rating and no formal price target for the stock.
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