the fourthquarter is underway and wall street analysts named some of their favorite buying opportunities this week these stocks are wellpositioned into yearend and have the right characteristics to navigate a tough macroeconomic environment analysts said cnbc pro combed through top wall street research to find the top stocks to buy in the fourthquarter they include ferrari bae systems ulta burlington and entergy entergy the electric and energy utility company is the right stock to buy at the right time according to bank of america the firm recently named entergy one of its top pick for the fourthquarter entergy corp is exposed to many positive themes among regulated utility peers and is an attractive defensive utility for an uncertain macro backdrop analyst paul zimbardo said the recently passed inflation reduction act also makes entergy shares underappreciated the firm said the ira incentives improve the solar economics for etrs commercial and industrial c  i customers driving greater demand finally zimbardo noted that entergy is a reshoring beneficiary the reshoring dynamics have only strengthened and accelerated with the european industrial backbone stressed by the surge in power prices he said shares are down 10 this year but investors should buy the stock now since its trading at favorable discount he wrote ulta the beauty and makeup retailer was recently named as a top high conviction idea and key fourthquarter name by investment firm da davidson analyst michael baker said in a note to clients that consumers appear to be absorbing inflation beauty in particular is holding up quite well the analyst said we believe the reopening play has room to go he wrote adding that the stock is recession resistant ultas comps have lead our retailing  broadlines  hardlines coverage group this year as it did last year as well he said shares are down over 6 this year however baker who has a price target of 490 per share sees a compelling riskreward outlook ulta is a best in class retailer taking market share within the beauty space an area of retail that is seeing outsized growth with less markdown exposure than other areas baker said ferrari ferrari is a luxury stock rbc analyst tom narayan said the firm recently named it one of its top stocks to buy in the fourth quarter while consumers may view ferrari as a car company narayan said it really isnt and thats a key reason for investors to buy the stock ferraris ebitda margins stock price movements and customer base are more similar to those of luxury stocks than auto oems original equipment manufacturers he wrote the company also has pricing power and many of its clientele are repeat customers narayan added more than 40 of customers already own a ferrari according to the firm narayan says new product launches are on the horizon too and ferrari has drastically increased production additionally narayan says managements electrification strategy continues to impress longer term we believe ferrari can fully electrify its fleet narayan wrote shares are down 16 this year entergy bank of america buy rating entergy is exposed to many positive themes among regulated utility peers and is an attractive defensive utility for an uncertain macro backdrop  the ira incentives improve the solar economics for etrs commercial and industrial customers driving greater demand  the reshoring dynamics have only strengthened and accelerated with the european industrial backbone stressed by the surge in power prices ulta  da davidson buy rating the consumer is absorbing inflation  high conviction ideas are bj orly and ulta ulta is a best in class retailer taking market share within the beauty space an area of retail that is seeing outsized growth with less markdown exposure than other areas  ultas comps have lead our retailing  broadlines  hardlines coverage group this year as it did last year as well  we believe the reopening play has room to go ferrari rbc outperform rating ferrari is a luxury stock ferraris ebitda margins stock price movements and customer base are more similar to those of luxury stocks than auto oems  moreover ferrari is already using electric technology to enhance performance and expects ev mix to reach 80 of vehicle sales by 2030 longer term we believe ferrari can fully electrify its fleet burlington wells fargo overweight rating we hosted an investor meeting with ceo michael osullivan cfo kristin wolfe and cmo jennifer vecchio management acknowledged their misexecution in 1h which was exacerbated by a challenged macro for their consumer however we believe ceo osullivan also exuded confidence in the goforward business—  all in we believe a material comp acceleration appears likely as we move into 2023 while a return to precovid margins is on the table over the next few years we remain ow and name burl a top pick bae systems bernstein outperform rating we recently presented bae systems as our top pick in european aerospace  defense as part of a best ideas presentation at bernsteins strategic decisions conference  other larger european a  d companies airbus safran are driven by commercial aerospace  while these hybrid stocks have also performed very strongly this year the point remain that if investors want a large european stock singularly driven by defense there is only bae systems