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Another earnings season is just around the corner, and Wall Street views some stocks as better positioned heading into it. The Nasdaq Composite reigned as the clear winner among the three major averages in the first quarter of 2023, surging nearly 15% after the worst year for the index since 2008 . The gains came from beaten-up technology stocks that struggled last year as interest rates rose and yields pushed higher, denting their lofty valuations. The Nasdaq-100 , a narrower subset of the Nasdaq Composite, also suffered keenly in 2022, with a decline of nearly 33%. It’s up 18% in 2023. With major tech stocks on a tear, the first-quarter earnings season will offer a first look into how these companies are truly faring. Amid this backdrop, CNBC Pro used FactSet data to find the stocks Wall Street is most bullish on heading into the season. The screen searched for Nasdaq-100 members that met the following criteria: Earnings per share estimates up 5% or more in past three months Average price target up at least 10% in past three months Of the group, Booking Holdings has seen the largest increase in estimates for earnings per share over the past three months, up 38.7%, while its price target has risen 18.7%. The travel stock has gained about 29% in 2023 following a 16% slump last year. Evercore ISI recently named the company among its list of stocks that can outperform in any economic landing. Another top contender heading into earnings season is Meta Platforms . Shares have surged more than 72% in 2023 as investors veer back into technology stocks and praise the company’s focus on efficiency . Most recently, the Facebook parent announced a new round of layoffs slated to hit at least 10,000 workers . EPS estimates have risen 27.4% over the last three months. The stock has also seen the largest price target increase over the last three months, up 50.5%. META YTD mountain Meta Platforms shares so far this year A handful of chip stocks also met the criteria, including GlobalFoundries and Analog Devices . Semiconductors have bounced back in the first quarter, with the S & P 500 industry group tracking the space gaining about 34% this year. Earnings per share estimates for both stocks are up 10% and 13.4%, respectively, within the last three months. Truck maker Paccar and Cadence Design Systems also made the list. — CNBC’s Chris Hayes contributed reporting.
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