While Wall Street debates over whether the S & P 500 is truly out of a bear market, these individual stocks are in bull market territory. The broad market index is up 20% from its October low. However, most market historians define a bull market as a period where investors get gains of 20% or more as well as a new high — the latter of which hasn’t been reached yet by the S & P 500. The broader market index hit a closing record high of 4,796.56 in January 2022 — about 10% below Tuesday’s closing level. Nonetheless, certain individual stocks have met both benchmarks. CNBC Pro screened for the stocks in a true bull market that fall under the following criteria: S & P 500 or Russell 1000 member Market cap of $15 billion or more At least 20% higher off its 52-week low Made a new 52-week high on Tuesday To be sure, notable names such as Apple have gained more than 20% from their 52-week lows and have hit 52-week highs — albeit not this past Tuesday, excluding them from the list. Take a look at the names that made the screen, and where analysts see them going forward. Chipmakers On Semiconductor , Applied Materials and NXP Semiconductor made the list. On Semiconductor’s stock has more than doubled from its 52-week low. Semiconductor companies have surged in recent weeks amid the AI-boom. The company has gained 48.4% year to date. While Wall Street is largely bullish on shares — with seven out of 10 analysts covering the stock rating it a buy or a strong buy — the stock is within just 3.5% of its average price target, suggesting limited upside ahead, according to FactSet. Shares of Applied Materials have also gained more than 44% off its 52-week lows. The stock is already trading 3.1% higher than its consensus price target set by analysts. Walmart is another stock in a true bull market. The retail giant reached a new 52-week high on Wednesday. Shares have gained more than 10% in 2023 and may rally an additional 7.6%, according to its average price target. Delta also made the cut. The airline has seen shares boosted by a post-pandemic rebound in travel. All 20 analysts covering the stock rate it either a strong guy or a buy. The stock’s average price target suggests shares could rally 18.6% from Tuesday’s close. Shares are up 28% year to date. —CNBC’s Michael Bloom contributed to this report.
