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The second-quarter earnings season turned out to be better than feared with many companies benefiting from the unprecedented societal changes during the pandemic. Wall Street's top analysts have now turned more bullish on some of their favorite stocks.
S&P 500 earnings fell about 30% in the second quarter, marking the worst decline in corporate profits since the first quarter in 2009, according to Refinitiv. However, the result was well above market expectations of a 44% earnings drop.
Analysts are raising their forecasts on their top picks following the quarterly earnings. CNBC used TipRanks data to find which stocks had their 12-month price target raised the most times in the past week.