Morningstar identified 14 US-listed stocks as newly overvalued for the week ending August 8. Stocks with 1 or 2-star ratings are considered overvalued, while those with 3, 4, or 5 stars are fairly valued or undervalued. The five new 2-star stocks with the largest market capitalization include Tesla, Amphenol, HCA Healthcare, CRH, and Itaú Unibanco Holding.

The Morningstar US Market Index rose 2.33% last week, leaving the US stock market slightly overvalued at a 5% premium to its fair value estimate. Among the 844 US-listed stocks covered by Morningstar analysts, 36% are undervalued, 42% are fairly valued, and 22% are overvalued. 24 stocks are newly undervalued, while 14 are newly overvalued.

Tesla, Amphenol, HCA Healthcare, CRH, and Itaú Unibanco Holding are the new 2-star stocks highlighted this week. These stocks have varying returns over the past year and are trading at premiums to their fair value estimates. Each stock is categorized based on its economic moat and uncertainty rating.

AutoZone, Alnylam Pharmaceuticals, and Corning are the newly identified 1-star stocks, all trading at premiums to their fair value estimates. These mid-core or mid-growth companies have shown significant returns over the past year and have economic moat classifications. Morningstar analysts assign fair value estimates and uncertainty ratings to all stocks under their coverage to determine each stock’s Morningstar Rating.

Read more at Morningstar: 14 Newly Overvalued Global Stocks