Analysts see six S&P 500 stocks trading 7% or more above their 12-month price targets, led by Moderna and Skyworks Solutions, even as the index sits just below its all-time high. The warnings stand out at a moment when the market keeps climbing and few investors seem to be pricing in downside risk.
Analysts have flagged six S&P 500 stocks as overvalued by 7% or more against their own 12-month price targets, according to an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge. The finding is notable because it runs against the market's own momentum right now.
The S&P 500 closed Thursday at 7,766, just below its prior all-time high of 7,798.99 set on Aug. 13. The index has grown increasingly dependent on a handful of stocks worth $1 trillion or more, largely on AI speculation, and analysts still see an average 19% gain across S&P 500 stocks overall.
Moderna tops the overvalued list
Moderna draws the most bearish view. The vaccine maker's shares have languished for years since the Covid-19 pandemic, but they are up 517% this year on optimism over its skin cancer vaccine. Analysts nonetheless see the stock trading 34% above their 12-month price target.
The company's fundamentals are turning, though unevenly. Moderna's profit is expected to fall 15% in 2026 before jumping 43% in 2027, and the stock is well extended from its buy point.
Skyworks and the rest of the list
Skyworks Solutions ranks second. Following a 41% surge this year, analysts consider the chipmaker overvalued by nearly 24%. Its earnings are projected to drop 15% in 2026 and 2% in 2027, and the stock, like Moderna, sits well extended from its buy point.
Illumina, Revvity, Best Buy, and HP round out the list, seen as overvalued by 17.9%, 9.4%, 8.7%, and 7.3%, respectively. All six names have risen this year, some sharply, so the pessimism could simply reflect momentum outpacing analysts' targets rather than a genuine mispricing.
Source: Investor's Business Daily
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