3 Analyst Favorite Stocks to Buy Now As the market finds its footing after a recent bout of weakness, it could pay off in a big way to add some of the top names that are unanimous...

Having conviction in a stock is a lot easier when you know that some of the best and brightest equity analysts on the street have recommended it. While you should never invest in a company solely based on an analyst report, it does pay off to use them for research purposes and to learn more about a business before risking your hard-earned capital to make a purchase. Keep in mind that not all analyst picks turn out to be winners, although when you see a company that is recommended over and over by some of the top equity research firms, it's worth taking note of.

As the market finds its footing after a recent bout of weakness, it could pay off in a big way to add some of the top names that are unanimous buys from the equity analyst community. That's why we've put together the following list of 3 analyst favorite stocks to buy now.

Let's take a deeper look at these top picks below.

Microsoft (NASDAQ: MSFT)

It's no coincidence that Microsoft was one of the first big tech names to make all-time highs after the recent market pullback. The software giant is a huge analyst favorite and has been delivering impressive growth with its Azure cloud offering, making it a top pick if you are looking for exposure to the tech sector. According to MarketBeat's analyst ratings, Microsoft stock is a consensus buy based on 31 analyst ratings and has a consensus price target of $325.44, implying over 5% of upside from current prices.

Hybrid cloud solutions should continue seeing heavy demand as enterprises pursue digital transformations, and Microsoft is set to benefit from this trend in a big way. If you aren't familiar with the term hybrid cloud, it's a computing environment that combines an on-premises datacenter with a public cloud, which is a plus for businesses since it can help them save time and money by avoiding having to pay for and install expensive physical servers. There's also plenty to like about how Microsoft is offering cloud versions of its most popular software like Office, which provides the company with recurring subscription revenue. Make sure to look out for Microsoft's Q1 earnings report on 10/26, which could be another monumental quarter for the analyst favorite.

Teck Resources Ltd (NYSE: TECK)

This Toronto-based materials stock is another analyst favorite that is worth a look given the positive outlook for commodities like copper, zinc, and metallurgical coal, which are rallying thanks to strong demand at this time, particularly from China. Teck Resources is one of the world's largest producers and zinc and metallurgical coal, and the company also mines copper, lead, silvery, molybdenum, and bitumen. The stock is a unanimous buy according to MarketBeat's analyst ratings, and has a consensus price target of $35.06, implying over 20% of upside at this time.

Teck Resources is a rock-solid metals and mining company to consider adding for a few reasons. First, it's diversified, as the company mines several different commodities and has operations in Canada, the United States, Chile, and Peru. It's good to see a mining company with key operations in several different countries, as this reduces Teck's country-specific risk. The company also has a strong balance sheet and is working on a big project called Quebrada Blanca 2 in Chile. Quebrada Blanca 2, or QB2, is one of the world's largest undeveloped copper resources and could be a huge growth driver for the company going forward.

Target (NYSE: TGT)

Target is perhaps one of the strongest big-box retailers on the planet, which is a big reason why the stock receives a lot of love from analysts. There are several long-term growth drivers to keep in mind here, as the company has been expanding its e-commerce offerings, remodeling some of its older stores, taking advantage of a shift in consumer preferences with a customer loyalty program, and partnering up with strong brands like Ulta Beauty. The stock has a consensus buy rating according to MarketBeat's analyst ratings, with a street-high price target of $308.

Target is also worth adding thanks to the fact that the stock recently got back over all of the major moving averages, which could signify that buyers are interested in adding exposure ahead of the holiday season and the company's upcoming earnings report. It's also worth noting that Target is a dividend aristocrat and offers investors a 1.42% dividend yield at this time, making it an ideal investment opportunity for people looking to create extra income for their portfolios.