There are no sure things in the stock market, and stocks with the highest upside often have the greatest amount of risk as well. Cobalt International Energy, Inc. (CIE), Globalstar, Inc. (GSAT) and Celldex Therapeutics, Inc. (CLDX) are three risky stocks with at least 40% average analyst upside.
Cobalt International Energy (CIE)
As oil prices have plummeted, high-cost North American operations were the first to be shut down. Offshore activities have some of the highest costs in the business.
As an investor or a company, you never want to put all your eggs in one basket. Unfortunately, that is exactly the position that CIE finds itself in. CIE’s only production currently comes from its 9.4% stake in the Anadarko Petroleum Corporation (APC) Heidelberg project in the Gulf of Mexico.
In the current oil price environment, CIE’s situation seems precarious at best. But if it can survive the downturn, shareholders could be rewarded with huge upside. The average price target of the 11 analysts currently covering CIE is $6.71, roughly a 220% upside from its current price.
Globalstar (GSAT)
GSAT provides…
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