These 3 stocks have a positive outlook, according to top Wall Street analysts.

The ongoing discussion about when the Federal Reserve will decrease interest rates is affecting market opinions. Investors are analyzing significant economic data, such as employment figures, to determine the current condition of the U.S. economy.

Wall Street analysts remain focused on identifying individual stocks that can withstand short-term pressures and provide long-term returns.

According to TipRanks, which ranks analysts based on their past performance, the Street's top pros favor these three stocks.

Burlington Stores

This week's first pick is off-price retailer Burlington Stores (BURL). The company's upbeat results for the first quarter of fiscal 2024 (ended May 4) and its subsequent increase in profit margin and earnings outlook for the full year have impressed investors.

Corey Tarlowe, Jefferies analyst, maintained a buy rating on BURL and raised the price target from $260 to $275 after analyzing the Q1 results. Tarlowe is optimistic about the retailer's potential to achieve strong comparable sales growth.

In the first quarter, Burlington Stores' gross and operating margins expanded, leading to better-than-expected earnings. Additionally, the analyst pointed out that the New Jersey-based company had well-managed inventory levels.

Tarlowe stated that BURL is the least profitable and smallest among major off-price retailers, and there is a significant potential for growth in both top-line and margins that has not been fully accounted for in estimates.

Tarlowe anticipates that BURL will benefit from customers shifting their shopping habits from department stores to off-price retailers, which were negatively impacted by the Covid pandemic. The retailer currently operates 1,021 stores and plans to open approximately 100 new stores this year. The analyst predicts that BURL will eventually have a total of 2,000 stores.

Among more than 8,800 analysts tracked by TipRanks, Tarlowe ranks No. 291. His ratings have been successful 67% of the time, with each delivering an average return of 18.9%. (See Burlington Stores Stock Charts on TipRanks)

Amazon

Despite a difficult economic climate, Amazon (AMZN) reported strong first-quarter earnings. The company's profit increased due to both revenue growth and cost-saving measures.

Ivan Feinseth, a financial analyst at Tigress, has maintained a buy rating on AMZN and raised his price target from $210 to $245, stating that the company's generative artificial intelligence-related tailwinds, multi-industry leadership position, and strong brand equity are driving growth.

The analyst predicts that AWS will experience a growth in the number of large language models (LLM) constructed on its platform due to its exceptional operating performance, security, and advanced capabilities, which will help businesses improve their efficiency and gain a competitive edge, ultimately leading to increased profits.

Feinseth emphasized Amazon's other strengths, such as its ongoing efforts to enhance Prime membership benefits, boost grocery sales, expand its digital advertising business, and maintain innovation. Additionally, Amazon's robust financials and cash flow allow it to invest in strategic transactions and growth initiatives.

Feinseth is ranked No. 242 among over 8,800 analysts on TipRanks. His ratings have been profitable 60% of the time, with each delivering an average return of 12.2%. (See Amazon Technical Analysis on TipRanks)

PagerDuty

In the first quarter of fiscal 2025, PagerDuty reported mixed results. While adjusted earnings per share exceeded analyst expectations, revenue fell short of estimates. Despite this, the company remained profitable on a non-GAAP basis for the seventh consecutive quarter.

Despite tough macroeconomic conditions, RBC Capital analyst Matthew Hedberg maintained a buy rating on PagerDuty with a price target of $27, expressing optimism about the potential for 2H/25 acceleration.

The analyst pointed out the 10% increase in the company's annual recurring revenue (ARR) and the 11% increase in billings. He specifically mentioned that the ARR growth was consistent at 10% for two consecutive quarters. Management anticipates that the ARR growth will accelerate in the second half of Fiscal 2025 due to the success of multi-year deals.

Hedberg believes that there will be improved pipeline visibility in the second half of fiscal 2025 due to the momentum in multi-product and multi-quarter deals. Additionally, he is optimistic about the prospects for PagerDuty's federal business, as the company recently secured an ATO from the Department of Veteran Affairs and closed its first seven-figure deal in the public sector.

Among more than 8,800 analysts tracked by TipRanks, Hedberg ranks No. 565. His ratings have been profitable 52% of the time, with each delivering an average return of 9.7%. (See PagerDuty Financial Statements on TipRanks)