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Pro Analysis

Wall Street believes these stocks will lead the Dow to its next milestone

Oil workers aboard the Agbami floating production, storage and offloading vessel, operated by Chevron Corp., in the Agbami deepwater oilfield in Nigeria.
George Osodi | Bloomberg | Getty Images
Oil workers aboard the Agbami floating production, storage and offloading vessel, operated by Chevron Corp., in the Agbami deepwater oilfield in Nigeria.

As the Dow Jones industrial average pierces through the 21,000 level for the first time, CNBC PRO found the stocks Wall Street believes will lead the Dow to 22,000 and beyond.

The index has added about 1,100 points or 5 percent since it first closed above 20,000 on Jan. 25 in a continuation of the stock market's postelection rally.

Since the U.S. presidential election on Nov. 8, the Dow is now up 2,783 points or about 15 percent.

Using data from FactSet, CNBC PRO combed through the Dow members to find the stocks with the highest upside potential, according to the consensus 12-month target price from analysts on the Street.

The study reveals that even after the massive rally in the market, a group of Dow members is still undervalued, according to analysts' bottom-up projections.