After rallying yesterday, financial markets are struggling to regain their recent momentum. Both the Dow Jones Industrial Average and the S&P 500 Global Index are in the red today. While the Nasdaq is still in the green, it has still been fairly turbulent. Experts such as InvestorPlace senior investment analyst Luke Lango believe that the momentum markets experienced late in 2023 will continue into 2024 due in part to the strong U.S. jobs report. But while we wait for that to happen, it’s important to take inventory of the top stocks Wall Street analysts are highly bullish on. Some of the highest-rated strong buy stocks might not be the names you’re expecting to hear.
Some experts predict that the Magnificent 7 stocks are destined to lose momentum this year as market conditions shift. That means there is likely even more opportunity in lesser-known companies that Wall Street still loves. These strong buy stocks have demonstrated the type of steady growth that analysts like to see, and they are poised to keep rising, even if economic conditions continue to worry investors.
Let’s take a look at some of the top stocks that analysts have pegged as 2024 winners.
10 Top Strong Buy Stocks to Watch
Amazon (NASDAQ:AMZN): This leader of tech and e-commerce is part of the Magnificent 7, but it boasts a truly impressive analyst rating consensus: 42 buys from Wall Street and zero sells or holds.
Boston Scientific (NYSE:BSX): This biotech and biomedical engineering firm is the picture of steady, sustainable growth. It boasts 16 buy ratings and has recently garnered favor from Wall Street due to the strategic acquisition of Axonics (NASDAQ:AXNX).
BYD Company (OTCMKTS:BYDDY): This Chinese electric vehicle (EV) producer recently outshoneTesla’s (NASDAQ:TSLA) Q4 sales. Wall Street clearly sees its high growth potential, as BYDDY stock currently features seven buy ratings and no sells.
Coterra Energy (NYSE:CTRA): Natural gas prices are rising, and Coterra is set to benefit. This hydrocarbon exploration company currently boasts 12 buy ratings, including a recent upgrade from Bank of America.
Crowdstrike Holdings (NASDAQ:CRWD): This cybersecurity leader is doing almost as well as Amazon. It currently features 36 buy ratings and zero sells. Morgan Stanley is among the firms to pound the table on it.
General Dynamics (NYSE:GD) “Dynamic” is an apt description for this aerospace and defense innovator that offers investors exposure to many other booming markets, including quantum computing and autonomous driving. It currently has 12 buy ratings, including price target upgrades from Barclays and Deutsche Bank.
Howmet Aerospace (NYSE:HWM): This aerospace firm isn’t as big as General Dynamics, but it boasts impressive financials and has held its own in a challenging market. It features 14 buy ratings from Wall Street and, like GD, has recently received a price target upgrade from Barclays.
Interactive Brokers (NASDAQ:IBKR): Despite its reputation, this isn’t just a brokerage firm that caters to high-end traders. It offers investors exposure to the AI market and recently reported strong enough earnings to earn an upgrade from Goldman Sachs. IBKR boasts nine buy ratings from Wall Street and zero sells.
Stellantis (NYSE:STLA): Following the culmination of the United Auto Workers (UAW) strike, Wall Street is convinced that this automaker will rebound in 2024. Both JPMorgan Chase and RBC Capital recently reaffirmed their STLA “buy” ratings, adding up to a total of 13 buys from Wall Street.
Synopsis (NASDAQ:SNPS): This automation firm is in an excellent position to keep riding the AI wave to new heights. Wall Street clearly agrees. It currently features nine buy ratings and zero sells. Lango has also named it as a top AI stock pick for 2024 due to its status as a leader in the field of electronic design automation (EDA) software.
On the date of publication, Samuel O’Brientdid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Samuel O’Brient is a Reporter for InvestorPlace, where his work focuses primarily on financial markets, global economic trends, and public policy. O’Brient writes a weekly column on recent political news that investors should be following.
Article printed from InvestorPlace Media, https://investorplace.com/2024/01/10-top-stocks-with-a-strong-buy-rating-right-now/.
Stocks to buy today: Experts have recommended these five shares to buy today — Ajanta Pharma, Akzo Nobel India, Samvardhan Motherson, GMDC, and Finolex Cables.
The Magnificent Seven stocks are a group of high-performing and influential companies in the U.S. stock market: Alphabet, Amazon, Apple, Meta Platforms, Microsoft, NVIDIA, and Tesla. Bank of America analyst Michael Hartnett used the film name in 2023 when commenting on these seven firms.
Even so, the gains posted by Ambrx Biopharma (AMAM) in Friday's session are unusual and particularly eye-catching. The stock soared to the tune of a hardly believable 1007% after the company announced pleasing results from the mid-stage testing of its breast cancer drug ARX788.
Strong Buy: Normally a strong buy is a stock that the analyst expects to give a return of over 25% in the next 1 year. Such stocks have fundamental story and momentum in their favour. Strong buys are not only defined in terms of absolute returns but also in terms of relative returns.
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