The major averages are leaping to fresh highs, but attractive stocks with good growth prospects are still available for the picking.
Wall Street analysts remain focused on the long-term prospects of stocks with solid growth potential. Investors can gain insights from the opinions of top analysts, who make recommendations after thorough research.
Here are three stocks favored by the Street’s top analysts, according to TipRanks, a platform that ranks analysts based on their past performance.
Nvidia
Chip giant Nvidia (NVDA) is this week’s first pick. The company impressed investors with blockbuster quarterly results and better-than-expected revenue guidance, thanks to the huge demand for its products due to the artificial intelligence frenzy.
In reaction to the stellar results for the fourth quarter of fiscal 2024, Goldman Sachs analyst Toshiya Hari reiterated a buy rating on NVDA stock and boosted the price target to $875 from $800. “Nvidia delivered against what was seemingly a very high bar with Data Center once again serving as the key growth driver,” he said.
Hari anticipates that strong generative AI infrastructure spending and new product launches will power continued outperformance. The analyst expects Nvidia to benefit from robust demand and new product introductions, including the H200 GPU, ethernet-based AI networking solution Spectrum-X and the next-generation Data Center GPU platform B100.
The analyst is modeling a greater than two-times year-over-year increase in Nvidia’s fiscal 2025 data center revenue. That’s even after the segment generated a greater than three-times surge in its top line in fiscal 2024. His optimism is backed by sustained growth in generative AI infrastructure spending by large cloud service providers and consumer internet companies, as well as increased AI development and adoption by enterprise customers and sovereign states.
Hari ranks No. 61 among more than 8,700 analysts tracked by TipRanks. His ratings have been successful 68% of…
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