Skip to content

Wall Street’s top 5 stocks with the biggest upside in 2024

Wall Street's top 5 stocks with the biggest upside for 2024
Elmaz Sabovic

With the possibility of an interest rate cut by the FED and fairly optimistic targets for the S&P 500 index by the largest analytical groups, investors might be looking for the best opportunities in the stock market for the upcoming 2024.

Looking at the opportunities in the stock market that offer a cheap entry point and high upside might be a toil-taking task. Still, Finbold has gathered all the information, specifically Wall Street analytics, for the stocks that offer the biggest upside in the next year.

JD.com (NASDAQ: JD)

Operating within a fiercely competitive sector, JD.com (NASDAQ: JD) has effectively sustained a robust presence despite inherent challenges.

JD.com’s capacity to uphold favorable profit margins is pivotal to their positive evaluation. The third-quarter results met revenue expectations and showcased margins surpassing initial projections. Early indicators for the fourth quarter are promising, pointing towards a sustained trajectory of strength.

This company holds a market capitalization of $43 billion, with the current market price at $27.59 per share. The target price is $41.44, indicating a potential upside of 50.20%. 

JD stock 12-month price target. Source: TipRanks
JD stock 12-month price target. Source: TipRanks

Moderna (NASDAQ: MRNA)

Earlier this month, Moderna’s stock (NASDAQ: MRNA) experienced a notable surge following the company’s announcement that its cancer vaccine reduced the risk of relapse or death for post-surgical melanoma patients.

Investors closely monitor the customized cancer vaccine developed in collaboration with Merck (NYSE: MRK). This vaccine stimulates an immune response against the patient’s tumor cells.

With further innovations coming in 2024, this company looks set to lead the way among its peers in the medical and pharmaceutical industries.

Moderna’s market capitalization is $32.8 billion, with a current market price of $94.89 per share. The target price is $119.92, reflecting a potential upside of 26.38%

MRNA 12-month stock price target. Source: TipRanks
MRNA 12-month stock price target. Source: TipRanks

First Solar (NASDAQ: FSLR)

First Solar (NASDAQ: FSLR) has firmly established its presence in the market for utility-scale solar equipment, with a notable focus on the United States.

First Solar specializes in CdTe (cadmium telluride) thin-film modules, distinguished by their use of less semiconductor material than traditional crystalline silicon modules. The company’s Series 6 and 7 technology is expected to yield a cost advantage over Asian counterparts by lowering cost-per-watt and reducing freight costs.

External factors, including geopolitical dynamics between the U.S. and China, have the potential to align favorably for First Solar. 

First Solar’s market capitalization is $18 billion, with a current market price of $170.39 per share. The target price is $230.68, reflecting a potential upside of 35.38%. 

FSLR 12-month stock price target. Source: TipRanks
FSLR 12-month stock price target. Source: TipRanks

APA (NASDAQ: APA)

APA Corporation (NASDAQ: APA) possesses consolidated subsidiaries engaged in the exploration and production of oil and natural gas across various regions, including the United States, Egypt, and the United Kingdom. Additionally, these subsidiaries conduct oil and natural gas exploration activities offshore in Suriname and the Dominican Republic.

Its robust industry performance and diversification in its production lines offer a lucrative entry price point at the current valuation, as the need for oil and natural gas remains consistent.

APA’s market capitalization is $10.9 billion, with a current market price of $35.96 per share. The target price is $47.25, reflecting a potential upside of 31.40%. 

APA 12-month stock price target. Source: TipRanks
APA 12-month stock price target. Source: TipRanks

Nvidia (NASDAQ: NVDA)

Nvidia’s (NASDAQ: NVDA) position as a leading tech stock in 2024 is solidified by its dominance in the graphics processing unit market and strategic expansion into high-growth sectors such as artificial intelligence and data centers. The company’s innovative GPU technology, marked by advancements in AI, gaming, and autonomous vehicles, further enhances its growth prospects.

The company’s graphics processing units (GPUs) contribute to immersive gaming experiences, drive advancements in AI research, and facilitate complex data analysis. In addition to hardware, the company undertakes innovative initiatives in developing high-performance computing solutions to cater to the requirements of industries demanding exceptional computational power.

NVDA’s market capitalization is $1.2 trillion, with a current market price of $488.30 per share. The target price is $661.35, reflecting a potential upside of 35.44%. 

NVDA 12-month stock price target. Source: TipRanks
NVDA 12-month stock price target. Source: TipRanks

Having demonstrated notable added value in the preceding year, these stocks appear poised for continued gains in 2024. Expanding their industries and rising demand are primary catalysts for this positive outlook.

Nonetheless, investors must undertake thorough research, enabling them to acquire comprehensive knowledge and insights into the potential upsides and downsides associated with investing in a specific stock.

Buy stocks now with Interactive Brokers – the most advanced investment platform

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts