Pro Analysis

Here are 6 contrarian stock picks from Credit Suisse for the rest of the year

Mike Blake | Reuters

Credit Suisse's research team put out a note to clients Friday with its most differentiated, highest conviction stock recommendations.

"This report identifies companies where our analysts stand apart from the consensus view, companies where our analysis reveals opportunities that the market has not yet priced in," they wrote. "We screened our current US coverage universe to identify companies where our analysts' views diverged from that of the Street, focusing on rating, earnings projections as well as target price. To further strengthen the list of stocks, we worked closely with the research analysts to select stories in which our conviction level is high."

Smart fund managers like to avoid over-owned consensus stock ideas, because when sentiment shifts there may be more downside risk as investors flee for the exits at once. Bank of America Merrill Lynch's Savita Subramanian has said it's more difficult for crowded stocks to move higher since everyone is already in the trade.

Here are the details on Credit Suisse's six outperform-rated "contrarian" stock picks and their 12-month price forecasts.