Everyone loves a good comeback story, and that's especially true in markets where business cycles ebb and flow. Last year's winners frequently turn into this year's laggards, and we've already seen examples of that this month as software stocks plunge and memory stocks soar.

Today, we'll look at five stocks with comeback potential in 2026. The theme connecting these five companies is their miserable performance in 2025, and the steps they've taken to prove investors wrong in 2026.

Each stock is off to a hot start in January, but there's still plenty of time left for investors to decide if these companies fit their risk profile and time frame.

Here are the five comeback stocks to buy this week.

Novo Nordisk AS

Danish pharmaceutical giant Novo Nordisk (NYSE:NVO) is a pioneer of the GLP-1 revolution. While the $262 billion company has a deep drug pipeline, it’s the proliferation of Wegovy and Ozempic that has investors watching the stock. In 2025, NVO shares lost more than 40% as Eli Lilly's Zepbound and Mounjaro gave patients competing options, and the company missed revenue estimates in three consecutive quarters.

However, the company received some very bullish news earlier this month: Wegovy is now the first oral GLP-1 treatment approved by the Food and Drug Administration (FDA). Let's face it, Americans aren't too fond of needles, and having an oral treatment instead of an injectable is likely to sway a significant number of otherwise reluctant patients.

The stock received its first 2026 coverage update on January 9, when analysts at CICC Research initiated coverage with a Buy rating and a $73.50 price target, implying more than 20% upside from current levels.

After a lost year in 2025, the stock is finally showing signs of strength. NVO shares spent more than a full year trading below their 200-day simple moving average (SMA), a relentless drawdown that didn't even feature a false breakout. But now the winds are finally shifting, and the stock has broken the 200-day SMA for the first time in nearly 16 months. The Moving Average Convergence Divergence (MACD) indicator also shows a strong bullish uptrend, and neither the MACD line nor the signal line indicates the rally is overextended. 

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UnitedHealth Group Inc.

UnitedHealth Group (NYSE:UNH) finally had a nice little rally going before President Trump's proposal to keep Medicare rates flat sent shares plummeting nearly 20% in a single session. Analysts had been expecting rate hikes of at least 4% and now project that large insurers such as UnitedHealth could lose 15-20% of profits from their Medicare Advantage businesses.

Of course, this is just a proposal, and insurers will likely negotiate with the Trump administration to reach a more favorable deal before making adjustments. 

The company still projects more than $440 billion in 2026 revenue, and EPS figures are expected to top $17.75 per share. Before the Trump news drop, the stock had broken above the 200-day SMA, and a Golden Cross formation seemed imminent. However, the Relative Strength Index (RSI) is now oversold, and the decline has eased following the company's Q4 2025 earnings report.

Deckers Outdoor Corp.

The Decker Outdoor Corp. (NYSE:DECK) rally got started with a bang this week as the company smashed its Q3 2026 earnings release. Revenue and EPS figures both surpassed analyst expectations, and the company raised full-year revenue guidance projections to $5.4 billion. Decker Outdoor spent most of 2025 struggling against erratic tariff policy, and tariffs are expected to remain a headwind on the company in 2026. However, the company also raised gross and operating margin targets for 2026, indicating to investors that it can mitigate these tariffs with minimal pushback. 

The RSI had been trending lower before this earnings report, but the stock soared more than 14% after hours and now trades firmly above the 50-day and 200-day SMAs for the first time in nearly a full year. Decker has a strong balance sheet and trades at just 14 times earnings, giving it a Benzinga Edge Quality score of 91.16. 

Comcast Corp.

Comcast (NYSE:CMCSA) hasn't just had a bad year; it’s had a bad decade, trading around the same level as in 2016. The streaming revolution saw many of the company's loyal customers cut the cord, but now streamers are facing many of the same problems cable providers did with rights deals and intensifying competition. Meanwhile, Comcast has built a strong balance sheet behind its broadband internet service, and its dividend yields more than 4.5% with a 22% dividend payout ratio, giving the company ample room to raise its payout for a 19th consecutive year in 2026.

CMCSA shares are showing signs of a breakout as they approach the 200-day SMA, supported by bullish MACD momentum. Comcast has been a bond-like stock that pays quarterly coupons for much of the last decade, so any breakout should be taken with a grain of salt. However, if the stock breaks above the 200-day SMA, investors may see price appreciation and dividend income this year.

Airbnb Inc.

Airbnb (NASDAQ:ABNB) was one of 2021’s hottest IPOs, but now it’s easy to forget it’s a publicly traded company. The stock has lost nearly 30% since its post-IPO high five years ago, and the long-term trend has been bearish since March 2024. So why will 2026 be different? For the first time in years, Airbnb has technical and fundamental tailwinds working in its favor. 

The company received four upgrades in January, including sell-to-neutral moves from Cantor Fitzgerald, Barclays, and Wells Fargo, and a neutral-to-buy upgrade from B. Riley Securities. Analysts highlighted international expansion, the rollout of its Reserve Now Pay Later service, and the 2026 World Cup in the U.S., Canada, and Mexico as major catalysts for Airbnb this year.

The stock broke out briefly in December before reaching overbought on the RSI and dropping back to the 50-day SMA. A Golden Cross has now formed, and the 50-day SMA could be the new support level. Airbnb reports Q4 2025 earnings after the market closes on February 12, and investors will be closely watching the company's margin numbers and 2026 guidance projections.

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