With so many trading assets around, one can endlessly wrack their brains on where to invest their hard-earned bucks. If you’re also asking yourself ‘What stock should I buy today?’, read this guide. It observes some top stocks to buy now, and describes the companies standing behind them, as well as experts' predictions on the shares’ prices. These stocks represent companies from different industries, but all of them have a great profit potential.
Methodology of Picking the Best Stocks to Buy
Will There Be Another Rate Hike?
Best Stocks To Buy Heading into 2024
3) American Homes 4 Rent (AMH)
4) UnitedHealth Group Incorporated (UNH)
5) Fidelity National Information Services (FIS)
7) Advanced Micro Devices, Inc. (AMD)
10) Uber Technologies, Inc (UBER)
12) Berkshire Hathaway Inc (BRK-B)
What are good stocks to invest in right now?
What type of stock is best to buy?
Is it wise to invest in stocks right now?
Which stocks to buy for beginners?
To start compiling this list of good stocks to invest in, we checked Forbes’s and other ratings. For example, based on fundamental research done by its team of equities analysts, Bank of America creates a list of its top-performing stocks in the upcoming quarter. Analysts identify distinct catalysts that are expected to materialize for the related companies in the mid term. We checked their opinions and forecasts to see value stock growth potential.
Another source of information were websites and magazines like the U.S. News & World Report – a company that shares news, rankings and analytical articles about global businesses. Opinions and research in such media helped us analyze the performance of different industries. In the post-pandemic era, some of them accelerated and started thriving, while others lost their audience and a significant volume of cash flow. In the past few years, the following industries performed better than others:
Hence, many of the stocks listed below belong to companies from these sectors.
Apart from analyzing experts’ forecasts, we check the dividend yield of stocks. The percentage means the holder's income. For example, if you buy a $100 stock with a 4.2% dividend yield, you can earn $4.20 every year that you hold it.
Another selection criterion is the executives’ policy. Do CEOs and top managers strive to grow and develop a company? How exactly do they plan to achieve improvements? What are their goals and long-term perspectives for the corporation?
After comparing dozens of well-known companies and their stocks, we carefully selected 15 surefire shares that deserve being added to your portfolio. Because if the largest institutional investors pour millions into these stocks, they should be absolutely worth the price.
To put it mildly, the US markets have experienced a very volatile year thus far. So, naturally, the majority of investors are concerned about the status of the markets and their assets inside them given the increasing economic pressures, labor disputes, bank failures, and geopolitical concerns. Many investors are also keeping an eye out for the implications of future rate rises by the Federal Reserve for the markets and the global economy as the year comes to an end.
Experts suggest that the next significant rate hike may happen in December 2024, which means investors have enough time to find profitable stocks. Most likely, shares will gradually gain traction and value month by month. However, banks’ rising interest rates are not the only factor that defines the cost of shares: each company’s performance matters more – keep that in mind.
Without further ado, let’s observe 15 great shares to invest in.
Here are the stocks of the world's most well-known corporations. They are traded on NASDAQ and other widely available exchanges, so it won’t be hard to compile a diversified portfolio. Note that if you’re searching for the best short term stocks to buy now, not all of these shares will bring you fast returns.
Price: $54.06
Industry: Financial Services
Dividend yield: 1.2%
Citigroup is a globally recognized financial services company that has one of the broadest and most diverse customer bases. Among the titans of the banking sector is its Citibank.
Analysts see that Jane Fraser, the CEO of Citigroup, is taking bold steps to enhance and modernize the business. In 2024 and beyond, Citigroup has potential to increase earnings per share. Poonawala predicts a large value upside for the company as Wall Street becomes more certain and confident in Citi's core earnings outlook.
Experts’ price target for Citigroup is $60.
Price: $560.07
Industry: Entertainment
Dividend yield: No direct dividends, but brought an earnings yield of 2.6% in 2023
A movie and entertainment company, Netflix, Inc. represents the communication services industry. Initially, it specialized in mailing out DVDs to subscribers, but changed its niche to video streaming as that industry started gaining traction. Based in Los Gatos (CA), now Netflix provides mobile games, feature films, TV shows, and documentaries on its platform.
Netflix, Inc.'s shares were raised in October from Equal-Weight to Overweight by asset managers from Morgan Stanley. This is one of the top American equities that a lot of affluent hedge funds are investing in. Recently, analysts increased their price objective for the company from $430 to $475, but the stock has already broken this ceiling.
Price: $34.78
Industry: Real Estate
Dividend yield: 10.8%
A major provider of single-family houses for rent, American Homes 4 Rent offers superior properties, mostly in the Sun Belt area of the United States. The company provides both long-term and holiday season rentals.
The Central Bank of America’s analysts claim there are several advantages for the single-family home industry in 2024. The first is limited availability. Changing demographics that favor single-family rentals are providing another tailwind. There are also chances for American Homes 4 Rent to expand internally and through strategic acquisitions in a year ahead.
In the next five to seven years, there may be a surge in the rentals of such properties. The demographic bulge is shifting towards SFR (average renter age of 39), as millennials have outlived their peak apartment renting age of 32.
The price target for AMH is $44.
Price: $516.98
Industry: Healthcare
Dividend yield: 1.45%
UnitedHealth Group Incorporated is a managed healthcare provider. Operating through UnitedHealthcare and several affiliates (Optum), it provides services to 134 million people in all 50 states as well as over 125 countries. Its headquarters are situated in Minnetonka (MN).
In Q2 2023, 111 hedge funds held a total of $10.1 billion worth of UNH equities. This industry-leading managed care provider has double the revenue of its nearest rival. With appealing and consistent benefits, it keeps gaining shares of Medicare Advantage. As medical management is implemented throughout more recent, higher acuity lives, it may become more profitable. With a wide range of tools at its disposal, UnitedHealth can consistently generate long-term profit growth of between 13% and 16% annually. Analysts’ price target for UNH is $596.
Price: $62.28
Industry: Information Technology Services
Dividend yield: 5.3%
Fidelity National Information Services is among the top global suppliers of financial technology solutions to retailers, banks, and capital market companies.
The sale of a 55% share in Fidelity National's Worldpay Merchant Solutions division would increase the company's financial transparency and, probably, remove a negative impact on investor confidence and growth. After the deal closes, it will craft a streamlined business plan, reach a sizable amount of recurring income, and get the chance to pursue aggressive shareholder returns through share buybacks and dividend payments.
The company's early 2024 projection may act as a positive impetus. Analysts think more investors will be interested in the stock once this guidance is out, with a clean set of numbers disclosed.
The price target for FIS is $72.
Price: $368.30
Industry: Healthcare
Dividend yield: 9.9%
Leading health insurance provider Humana offers people, organizations, and the US military a variety of healthcare packages and wellness services.
Humana has a number of options for increasing its earnings per share from today's around 24 to an astounding 37 by 2025. The announced cancellation of Cigna's (CI) acquisition of Humana in December 2023 says a lot about the company's prospects for internal development.
The potential upside in the stock would depend heavily on Humana's fourth-quarter earnings, which are expected in February. If HUM can successfully grow at or above the market rate and demonstrate some degree of margin improvement, it will be able to rebuild confidence heading into 2024.
The HUM long-term stock price projection is $640.
Price: $172.47
Industry: Semiconductors
Dividend yield: No dividend payouts, but 127% returns in 2023
Advanced Micro Devices, Inc., a semiconductor manufacturer, is located in Santa Clara (CA). In addition to chipsets and embedded processors, the corporation sells x86 microprocessors and graphics processing units. On top of that, servers of cloud service providers (CSPs) run on AMD data center CPUs.
Analysts have positive projections for AMD because the company will be able to maintain its market share due to its performance and competitive pricing edge against Intel, in addition to the wider secular tailwind from cloud adoption. Also, the company's exposure to AI caused the current spike in stock price. Later in 2024, it will introduce its new MI300 graphics processing unit (GPU) chip to take on NVIDIA, the industry leader.
In Q2 2023, 112 hedge funds owned a total of $6.9 billion worth of AMD shares, with ARK Investment Management holding the largest piece of the pie – 266,380 shares. Analysts believe the stock price will rise from $108 to $145.
Price: $381.74
Industry: Medical Instruments & Supplies
Dividend yield: 17.8%
The da Vinci System, created by medical equipment manufacturer Intuitive Surgical, combines sophisticated robotics and digital imaging technologies to enable minimally invasive operations. So it’s no wonder that the ISRG is a great investment in the best-growing medical technology market in the world: soft tissue robotic surgery.
Even in the event that Intuitive does not reveal a new surgical system product, the firm has a chance to expand yearly profits per share by 10% and more in the upcoming years. But since a new system would mark the beginning of a fresh three-to five-year cycle for profit improvements, it may be a major trigger to push the stock cost higher.
So far, price expectations for ISRG are staying at the level of $400 per share.
Price: $137.57
Industry: Auto Parts
Dividend yield: 10.5%
Lear provides electrical systems and seats to the international automotive industry. It stands apart from other auto suppliers thanks to its history of exceptional budget distributions, above-average margins, competitive free cash flow, and industry-leading growth. Furthermore, Lear's E-Systems division exposes the business to some of the most alluring development trends in the automotive sector, such as electrification and connection.
Lear's share price may rise in the near future due to margin improvement and a rebound in global vehicle manufacturing volumes. Delivering operating leverage requires increasing production volume so that Lear can utilize its fixed expenses over a wider base.
The LEA stock price prediction for 2024 is $220.
Price: $69.57
Industry: Software (Application) + Transport
Dividend yield: No dividend payouts, but has a great revenue growth potential
Uber Technologies, Inc. is a San Francisco-based provider of ground transportation services for passengers. As one of the top American stocks to purchase, it creates and manages exclusive technological applications for ridesharing services.
144 hedge funds had $7.7 billion worth of UBER shares as of the second quarter. At the conclusion of the second quarter, Beech Hill Partners was the company's top stakeholder, owning 124,652 shares. For the stock, analysts continue to have a price objective of $60.
Price: $92.22
Industry: Building products & equipment
Dividend yield: 7.4%
Trex is the leading maker of composite decking and railing products worldwide. The company is expected to surpass its long-term revenue growth objective of 11% to 13% in 2024 thanks to a number of sales growth tailwinds. Composite decking has outperformed other building product categories in growth due to its conversion from wood.
Furthermore, Trex has a strong lineup of upcoming product releases since it has effectively branched out into related markets like fasteners and low-cost railing. Rival brands are losing market share to the corporation. Given the reduced interest rate environment and the expectation of above-trend growth in 2024, a higher target of $90 per share seems to make sense.
Price: $397.42
Industry: Insurance, financial services
Dividend yield: No dividend payouts, but returns of about 10.67% per year
The financial firm Berkshire Hathaway Inc. is situated in Omaha (NE). It is one of the greatest American stocks to purchase right now and is involved in the insurance, freight rail, and utilities industries globally.
Despite a 21% increase in revenue to $93.2 billion, Berkshire Hathaway's third quarter profits per share increased 43% to $4.96. Operating profit for the third quarter increased by 41% to $10.8 billion.
109 hedge funds held BRK-B at the end of the second quarter. The entire value of their shareholding was $15.5 billion. Additionally, analysts increased their price objective for the company from $405 to $414. Overall, BRK-B stocks can be a great part of your inflation hedge strategy.
Price: $247.28
Industry: Railroads
Dividend yield: 7.3%
Union Pacific is a large operator of railroad tracks in 23 states (⅔ of the United States’ western part). Through continuous network modernization, the company managed to raise the caliber of its services, started running more effectively, and increased its market share. Since taking over in August 2023, Jim Vena, the new CEO and specialist in precision-scheduled railroading, has already boosted Union Pacific's operational metrics. The corporation plans to increase its operating ratio from 2023 levels by 3.2% to 59% in 2024.
Given the improving environment, faster share gains brought on by its enhanced service, and strong operational leverage in its best-in-class rail franchise, the company has an enormous earnings potential. The UNP price in 2024 might reach the $271 threshold.
Price: $725.48
Industry: Semiconductors
Dividend yield: 0.02% with 2.09% payout ratio
NVIDIA Corporation is based in Santa Clara (CA). This American semiconductor manufacturer was founded in 2004. It is renowned for having invented graphics processing units (GPUs), which improve and accelerate computer tasks while enhancing the rendering of digital images and films. The company's data center product line, which includes GPUs, software, and cloud provider agreements to assist developing generative AI applications, is what mostly contributes to its growth.
Why do investors love this stock? Rapid development of AI and the gaming industry calls for a skyrocketing demand for chips. NVIDIA remains the leader in this industry, and, considering that competition is scarce, it will continue gaining a lion’s share of revenue in this niche. In the second quarter, 175 hedge funds owned stock in NVIDIA Corporation, totaling a holding of $25.9 billion. Some analysts claim that NVIDIA capitalization on the stock market can reach a stellar $2 trillion in 2024. As for NVDA stock price projections, the most optimistic ones are $1,100 by the end of the year.
Price: $59.48
Industry: Consumer Staples
Dividend yield: 3.1%
Coca-Cola (KO) has made acquisitions like the coffee firm Costa, which has allowed it to diversify its product lineup and move away from producing sweet sodas. As a result, the corporation is now stronger than it was at the beginning of the epidemic.
In the most recent quarter, Coke exceeded the expectations of analysts. Operating profit margins increased, and the company raised its forecast for sales and earnings in 2023. The same success is anticipated in 2024, so asset holders can get pretty good adjusted earnings.
These are the best stocks to buy now because the KO price experienced an almost 5% decline in 2023. Having increased its dividend year by year, Coke is also one of the greatest dividend stocks. Analysts forecast that the KO stock price may reach $61.
It is clear that many US technology stocks can generate a significant profit in a few years’ perspective. Also, the healthcare and communications industries are thriving – these are the best shares to buy now. Beware of investing in such industries and oil and gas exploration: they’ve been unstable since 2022 because of conflicts in the Middle East and Russia’s invasion of Ukraine.
If you plan to make long-term investments, opt for stocks with a dividend yield (they will generate you passive income every year) and companies that operate in high-potential industries. For example, growth investors prefer tech and healthcare companies because they exhibit a steady growth. Be careful with the energy industry because oil prices are not stable and energy prices have not risen in the last few years.
Since 2024 is marked by the revival of many sectors after a long-lasting COVID-19-induced bearish market, many individual stocks are still traded below their fair average market price. Hence, now is a perfect moment for making stock purchases. However, you should always perform your own research of the chosen share and its company.
Beginners are recommended to invest in conservative assets that may exhibit stable growth – this will help them reduce risks. Such shares usually belong to large, well-known corporations; for example, Google and Apple are strong buy stocks. There is a very small chance that these stocks will lose a significant part of their value. You can also take a look at index funds – it will help you build a well-balanced portfolio.
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