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Financial stocks and some beaten-up technology stocks staged a rally this week even as the major averages headed for a week of losses. As of midday Friday, all three major averages were on pace for modest weekly losses as earnings season kicked into gear and investors fought to hold on to January’s rally. The Dow Jones Industrial Average was last down about 3.5% since Monday. Financial stocks were a major bright spot in the market this week, with SVB Financial Group reigning as the top performer. Shares rose more than 12%, even though the company fell short on analysts’ estimates for per-share earnings for the recent quarter, according to StreetAccount. Still, SVB came in slightly ahead of the Street’s expectations for net interest income in the fourth quarter. About half of Wall Street analysts say shares are a buy, although the consensus price target suggests limited upside for shares near term. As the week draws to a close, we used FactSet data after Friday’s open to screen for the best-performing stocks and their potential upside based on Wall Street’s average price target. Here are the top ten biggest gainers: Along with SVB, other financial stocks outperformed this week, accounting for four spots within the top performers list. That included shares of Signature Bank and M & T Bank, which rose 4.8% and 4.5%, respectively, after posting earnings results. Signature shared a big increase to its dividend and solid net income even as crypto deposits declined. A handful of tech stocks also saw solid gains this week. Tesla ‘s stock gained roughly 7% since Monday. Shares of the electric vehicle maker have come under pressure in recent months amid temporary factory shutdowns in China and Elon Musk’s takeover of Twitter. The average price target suggest shares stand to gain nearly 64% after they shed 65% in 2022. Another big tech gainer was Alphabet , which surged more than 5% for the week. The Google parent said in an email Friday that it’s planning to cut 12,000 positions as it deals with slowing growth and dwindling advertising spending. Online dating app company Match rose 7.2%, with the consensus price target suggesting shares could gain nearly 26%. ServiceNow and Fidelity National Information Services also made the top performers list, rising 3.6% and 4.2%, respectively, as of Friday morning. Transport stock J.B. Hunt Transport Services was another big gainer, adding 5.5%. — CNBC’s Michael Bloom contributed reporting
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