We recently published our piece Top 5 Stocks to Buy Now That Could Deliver 20%+ Upside Fast. To read the full article, head on to Top 10 Stocks to Buy Now That Could Deliver 20%+ Upside Fast. Here, we turn our focus to Summit Therapeutics (NASDAQ:SMMT) as one of the stocks gaining attention, and take a closer look at why it stands out in today’s market.

In an era where markets have repeatedly been tested by geopolitical shocks, inflationary spikes, and shifting monetary policies, the current rally in U.S. equities stands out not just for its resilience—but for its persistence. The story unfolding across Wall Street today is one that seasoned market observers would recognize immediately, yet still find remarkable in its intensity. The equity market, led by the S&P 500 and the Nasdaq 100, has surged back to record highs, reinforcing a powerful narrative: the bull market is not only alive, it is evolving—and it may extend well into 2027.

From a historical standpoint, sustained bull markets are rarely driven by a single catalyst. However, this cycle has found its defining force in artificial intelligence, a theme that has transitioned from speculative hype to measurable earnings impact. What makes this period particularly compelling is that the rally is not occurring in a vacuum of optimism. Instead, it is unfolding against a backdrop of rising oil prices, persistent inflation concerns, and renewed geopolitical tensions in the Middle East—conditions that, in previous cycles, would have derailed momentum. Yet, the market continues to climb, supported by strong corporate earnings and a renewed appetite for high-quality growth stocks.

Wall Street’s Strategic Shift Toward Quality and Growth

Veteran strategists across major institutions are now aligning on a more constructive outlook, signaling a notable shift in sentiment. Analysts at Citigroup, BlackRock, and Morgan Stanley have collectively reinforced confidence in the durability of the current market cycle. Their outlook reflects a nuanced understanding of modern market dynamics, where risk is not eliminated but rather repriced and redistributed.

One of the more interesting dynamics at play—often overlooked by less experienced investors—is how uncertainty itself can act as a stabilizing force. Elevated geopolitical risk has prompted a rotation toward defensive, high-quality companies, effectively strengthening the foundation of the rally. This is not the speculative excess seen in previous bubbles; rather, it is a more disciplined expansion, where capital is selectively flowing into businesses with proven earnings power and pricing resilience.

At the same time, projections for the S&P 500 have become increasingly ambitious. Citigroup strategists now anticipate the index could reach 7,700 by year-end, a target that would have seemed aggressive even a year ago. Meanwhile, Goldman Sachs maintains that the market’s upward trajectory remains intact, even in the face of macroeconomic headwinds. Their analysis suggests that much of the downside risk—whether tied to inflation, interest rates, or geopolitical developments—has already been priced into valuations.

Earnings Strength, AI Momentum, and the Search for Alpha

Behind the headlines and index milestones lies a more intricate story—one centered on earnings growth and technological transformation. First-quarter earnings have come in stronger than expected across multiple sectors, reinforcing the idea that corporate America is adapting more effectively than anticipated. For investors searching for the best stocks to buy now, this environment presents both opportunity and complexity.

Artificial intelligence, in particular, has emerged as a central pillar of the current bull market. Unlike previous technological waves, AI is not confined to a single sector. It is permeating industries ranging from healthcare and finance to manufacturing and logistics, creating a broad-based uplift in productivity and profitability. This has led to a surge in demand for AI stocks, growth stocks, and technology leaders—keywords that now dominate both investor conversations and search engine queries alike.

Yet, as Michael Wilson of Morgan Stanley has pointed out, markets may be moving ahead of visible risks. The S&P 500, while up modestly year-to-date, masks a deeper divergence beneath the surface. Certain high-performing stocks have significantly outpaced the broader index, suggesting that alpha generation—the ability to outperform the market—is becoming increasingly concentrated.

This divergence is precisely where opportunity lies. For investors and analysts alike, the challenge is no longer about identifying whether the market will rise, but rather which stocks are best positioned to capitalize on this environment. Terms such as “top growth stocks,” “best AI stocks to buy,” and “stocks with high upside potential” are no longer just SEO phrases—they reflect a genuine shift in investment strategy.

Framing the Opportunity: Identifying the Best Stocks in a Rising Market

In a rising market, the temptation is often to assume that all boats will rise with the tide. However, history—and experience—suggests otherwise. Even in the strongest bull markets, a relatively small group of stocks tends to drive the majority of gains. This reality underscores the importance of disciplined stock selection, particularly for those seeking to outperform major benchmarks like the Nasdaq 100.

The current landscape is especially favorable for identifying high-upside opportunities. With hedge fund positioning, institutional flows, and analyst upgrades all pointing toward select names, the groundwork has been laid for a new generation of market leaders. These are not merely stocks riding momentum; they are companies demonstrating tangible earnings growth, competitive advantages, and strategic alignment with long-term trends such as artificial intelligence and digital transformation.

Against this backdrop, the search for the best stocks to buy in a rising market becomes both a science and an art—one that requires not just data, but context, discipline, and a deep understanding of market psychology.

CHECK THIS OUT: Top 10 Best Stocks Analysts Are Bullish On Right Now andTop 10 Stocks Dominating Today’s Market.

Our Methodology

To identify the top 10 stocks to buy now that could deliver 20%+ upside fast, we screened for companies with over 20% year-to-date gains using Finviz, filtered those with at least 20% analyst upside as of April 27, prioritized stocks heavily backed by hedge funds in Q4 2025, and ranked them in ascending order based on projected upside potential.

Top 5 Stocks to Buy Now That Could Deliver 20%+ Upside Fast

3. Summit Therapeutics (NASDAQ:SMMT)

Stock Upside Potential: 42.05%
Year-to-Date Gain: 26.03%

Summit Therapeutics is gaining traction based on upcoming clinical catalysts tied to its lead oncology asset, ivonescimab. On April 21, analysts at Stifel reiterated a Buy rating and set a $45 price target, pointing to strong potential upside.

The key catalyst is the upcoming HARMONi-6 interim overall survival readout expected to be presented at ASCO 2026. The study has a 33% larger sample size compared to HARMONi-2 and focuses on all-squamous histology, offering broader clinical relevance. It evaluates ivonescimab against tislelizumab in non-small cell lung cancer.

Previous data from HARMONi-2 already showed promising results when compared against Pembrolizumab in advanced NSCLC patients. In parallel, partner Akeso is pursuing label expansion in China following interim analysis showing favorable trends over Pembrolizumab.

Ivonescimab is a bispecific antibody targeting PD-1 and VEGF, combining immune checkpoint inhibition with anti-angiogenesis. This dual mechanism could position it as a first-in-class therapy if clinical data continues to hold. The upcoming data release remains the primary driver for valuation expansion.

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Disclosure: No material interests to disclose. This article was originally published on Global Market Bulletin.