3 Top S&P 500 Stocks Near 52-Week Highs

The benchmark UK stock market slumped on Friday amid the escalation in the trade war with China, leaving some of the top names just shy of their 52-week highs. Here are some stocks that could break out or pull back as the market heads into a week likely marked by geopolitical turmoil and the start of the third-quarter earnings season.

Three S&P500 Stocks Near 52-Week Highs

• Cencora (COR): Price of $318.00 places it 0.5% away
• Tesla (TSL): Price of $413.49 places it 10% away
• Monster Beverage (MNST): Price of $69.62 places it -0.6 away

Cencora Could Be a Tariffs Winner

Shares in the healthcare services giant have been trending higher all year, up 41% and reaching new all-time highs last week. The company is one of the quiet gainers on the index, as it . Last quarter, it reported a 45.5% jump in earnings to $3.52 per share. Some of the gain was attributed to the recent acquisition of RCA, but a substantial portion was due to organic growth from lower costs and higher income from US Health Care Solutions. Wells Fargo believes the to benefit from domestic outperformance, as international health firms, including pharmaceutical companies, face tariffs and therefore struggle to compete in the US market. The investment bank also points to Cencora's history of profitable acquisitions. 

Cencora trades at a P/E ratio of 32.7x, which is pretty in line with the average for the S&P 500 these days. with a price target of $33.70, implying a 5% upside.

Tesla Rising Despite Obstacles

Big tech firms like Apple and Nvidia keep making new record highs, most recently on Thursday. But Tesla stands out among the tech firms for its recovery. The stock was down almost 50% at one point this year but has since surged to score a new all-time high at the start of the month. That was a day before it of 497.1K vehicles, up 7% from a year earlier and a sign that the company's brand was on the upswing. The company's recovery has come amid a challenging backdrop, including the end of $7,000 subsidies for EVs, the resurgent trade tensions with China that snarled up the supply chain, and increased competition in its core markets.

However, like other tech stocks, the company has a steep valuation, with a P/E ratio of 243x. Analysts see the stock price declining back to $362.34 per share, a potential further decline of 12%.

American Thirst Keeps Monster Roaring

PepsiCo last week reported solid earnings, giving other beverage companies hope of similar gains. Monster is scheduled to report earnings early in November, with the consensus for to $0.48 and revenues increasing 12.1% to $2.11B. Of course, this comes in the context of the company's share price rising 32% since the start of the year, reaching a 52-week high last Friday. Energy drinks in the US are a booming market and are expected to be the best-performing sector among non-alcoholic beverages. In its la

The company trades at a P/E ratio of 43.2x, which is above the average for the S&P 500. However, recent analyst calls have reiterated their buy ratings. Analysts believe the company , with a price target of $69.62 per share.   

S&P 500 in Pullback Mode For Now

The S&P 500’s drop to 6550 marked a new low not seen since September while forming a double bottom with the September-end trough at 6570. The price action spanning the month of October appears to turn into an open triangle pattern, which would open the door to new highs if 6700 and the peak of 6765 gave way to bulls. However, the 6665 could form a local top, suggesting another decline under the regional support and towards 6500 and 6420. The break of the latter, as it would be over 5% but under 10%, would imply a short-term market pullback.

Source: SpreadEx | SPX 500, 4-hour