Earnings season is in full swing, and Wall Street analysts named a slew of well-positioned stocks heading into quarterly results. These companies are firing on all cylinders, and their shares have more room to run. Tech Zone Daily Pro combed through recent Wall Street research to find stocks with earnings upside. They include Nvidia, Dover, Arista Networks , Xcel Energy, Pfizer and Costco. Dover Shares of Dover, a maker of industrial products, are down about 3.5% in October, but they are too attractive to ignore, Oppenheimer said. Analyst Bryan Blair wrote in a recent note that investors should take advantage of the weakness to accumulate shares. “We appreciate Dover’s significant transformation over the years, shedding non-industrial assets and establishing a more streamlined multi-industry portfolio,” Blair said. The firm said it likes Dover’s wide array of businesses, which includes climate and sustainability technologies, as well as clean energy. The analyst also says Dover’s biopharma unit is underappreciated, with an attractive setup into next year. “Looking to 2024, the likely resurgence of biopharma, continued outgrowth of other secular growth markets and $40M-plus in carryover savings support continued earnings momentum,” Blair wrote. Dover recently announced it was acquiring FW Murphy Production Controls, a natural gas compressor controls solutions company that Blair says “levers momentum into 2024.” Dover is scheduled to report quarterly earnings next week. Arista Networks It’s shaping up to be a big quarter ahead for the computer networking company, according to Evercore ISI. Analyst Amit Daryanani and his team added a tactical outperform to the stock ahead of earnings on Oct. 30. “Arista should continue their track record of beating guidance and it’s possible we see one more increase to the full year guide,” he said. The firm said it expects no real surprises from the company and that investors should focus on upcoming 2024 events, such as the company’s analyst day. “We continue to see multiple paths to double digit growth for Arista in 2024 and their analyst day should confirm this outlook,” Daryanani wrote. In addition, he said investors should watch for any commentary on how Arista is thinking about artificial intelligence, as that’s likely to be another positive catalyst. Meanwhile, shares are up 53% this year. “Well Positioned for Another Beat and Raise,” Daryanani said. Xcel Energy Bank of America said in a recent note that the utility company’s growth prospects are too attractive to ignore right now. The firm upgraded the stock to buy from neutral ahead of the company’s Oct. 27 earnings report. “In a sector with companies largely playing defense given interest rate and inflationary pressures, the XEL emerging growth story comes across as all the more compelling,” analyst Julien Dumoulin-Smith said. Xcel is also a key beneficiary of the Inflation Reduction Act, according to Dumoulin-Smith, who raised his price target on the stock to $66 per share from $58. “As the market has grown more cautious around the utility outlook, we believe XEL continues to deliver solid earnings upside and a premium defensive core regulated story that investors will continue to gravitate to amid broader sector rotation,” he said. Shares are down 17% this year. Dover – Oppenheimer, outperform rating “FW Murphy Deal Levers Momentum Into 2024. … Looking to 2024, likely resurgence of biopharma, continued outgrowth of other secular growth markets & $40M-plus in carryover savings support continued earnings momentum. … We appreciate DOV’s significant transformation over the years, shedding non-industrial assets & establishing a more streamlined multi-industry portfolio. We believe DOV is well positioned for sustainable core growth across platforms with EPS upside driven by volume leverage & continuous operating improvements.” Xcel Energy – Bank of America, buy rating “In a sector with companies largely playing defense given interest rate and inflationary pressures, the XEL emerging growth story comes across as all the more compelling. … As the market has grown more cautious around the utility outlook, we believe XEL continues to deliver solid earnings upside and a premium defensive core regulated story that investors will continue to gravitate to amid broader sector rotation.” Costco – William Blair, outperform rating “While we see room for potential multiple expansion in line with its recent average, we expect the stock to primarily appreciate on sustainable earnings growth in the low-double-digit range driven by the increasing appeal of its value proposition, strong member engagement, warehouse expansion efforts, and shareholder returns, with potential for additional earnings upside on a membership fee increase.” Pfizer – Cantor Fitzgerald, overweight rating “On Friday (10/13), PFE amended its US government Paxlovid supply agreement, lowered its full-year 2023 guidance, & launched a cost savings program. The latter two initiatives were widely anticipated & all three updates increase earnings visibility into 2023+ which should remove an overhang on PFE’s stock. … Post the update last Friday, we continue to think it’s a good time to take another look at PFE’s stock. Earnings expectations have been reset.” Arista Networks – Evercore ISI, outperform rating “Well Positioned for Another Beat and Raise. Adding to Tactical OP List. … Arista should continue their track record of beating guidance and it’s possible we see one more increase to the full year guide. … We continue to see multiple paths to double digit growth for Arista in 2024 and their analyst day should confirm this outlook.” Nvidia – Jefferies, buy rating “AI and Automotive demand remains robust, while demand is weakening elsewhere, including industrial applications. … Semis Pricing is Stable, OCMs [original component manufacturers] Believe the Post-COVID Pricing Levels are Here to Stay Given Inflationary Environment. … Going into earnings season, we think NVDA and AMAT have the best chance to post upside surprises.”