- Money Masters
- Posts
- 5 Best Stocks for 2024
5 Best Stocks for 2024
In today's market, us investors are always on the lookout for...
Kenny
July 26, 2024
In partnership with
These daily stock trade alerts shouldn’t be free!
The stock market can be a rewarding opportunity to grow your wealth, but who has the time??
Full time jobs, kids, other commitments…with a packed schedule, nearly 150,000 people turn to Bullseye Trades to get free trade alerts sent directly to their phone.
World renowned trader, Jeff Bishop, dials in on his top trades, detailing his thoughts and game plan.
Instantly sent directly to your phone and email. Your access is just a click away!
THE MONEY IDEA💡
5 Best Stocks for 2024
In today's market, us investors are always on the lookout for high-quality stocks with obvious growth potential. These stocks not only offer promising prospects but also have the potential for significant capital appreciation. Here are five stocks that currently present compelling buying opportunities based on their strong fundamentals, diverse portfolios, and strategic positioning.
Let’s dive in.
THE MONEY IDEA💡
5 Best Stocks for 2024
Business Overview: Alphabet, the parent company of Google, is a tech powerhouse with a valuation exceeding $2 trillion.
Diverse Portfolio: Dominates with its search engine, YouTube, Pixel smartphones, Google Cloud, and other services.
Advertising Growth: JPMorgan cited improving ad growth and higher margins as key factors for its 2024 potential.
Artificial Intelligence: Despite mixed reviews of its AI, Gemini, Google continues to innovate and compete in AI technology.
Financial Performance: Rebounded with strong Q1 earnings, announced a $70 billion share buyback program, and introduced its first-ever dividend.
Valuation Upside: Trades at 25.1 times forward earnings, with room for great expansion to match peers like Apple.
YTD performance through July 8: +35.5%
Business Overview: Discover Financial Services is well-positioned to benefit from a potentially soft landing for the economy.
Consumer Focused: Loans money to consumers, benefiting directly from the strong American consumer.
Acquisition Potential: Capital One's proposed acquisition could create a stronger competitor in the credit card market.
Regulatory Approval: The stock’s performance will align with Capital One’s and track regulatory approval progress.
Market Position: Though smaller than Visa, Mastercard, and American Express, Discover’s unique model sets it apart.
Growth Prospects: Expected to benefit from continued consumer spending and economic stability.
YTD performance through July 8: +15.9%
Business Overview: Disney continues to enchant investors with its extensive and diversified entertainment empire.
Diverse Holdings: From parks and cruises to ESPN and Disney+, its varied portfolio ensures multiple revenue streams.
Leadership: CEO Bob Iger’s return has brought strategic cost-cutting and strengthened management.
Cost Management: Increased cost-cutting goals from $5.5 billion to $7.5 billion to improve financial health.
Strategic Acquisitions: Known for savvy purchases like Pixar, Marvel, and Lucasfilm, enhancing its content library.
Investor Confidence: Recent victories in proxy battles and strong leadership decisions boost shareholder confidence.
YTD performance through July 8: +8.3%
Business Overview: Match Group, a leader in online dating, presents an intriguing investment despite recent struggles.
Market Leader: Owns popular brands like Tinder, Hinge, and Match.com, dominating the online dating scene.
Secular Growth: Younger generations increasingly use dating apps, pushing back marriage age and boosting user base.
Valuation: Currently trades at a low forward P/E of 13.6, making it an attractive entry point.
Growth Potential: Expected to grow earnings at a 20% compound annual growth rate over the next five years.
Turnaround Prospects: Despite recent declines, there is room for recovery as the company adapts to market demands.
YTD performance through July 8: -17.3%
Business Overview: Target offers stability and growth potential at a reasonable valuation.
Reasonable Valuation: Trades at just 16 times forward earnings, a discount compared to other retailers.
Earnings Growth: Expected to grow earnings by 5% this fiscal year and 12% next fiscal year.
Resilience: Historically weathers recessions well, providing defensive value during economic downturns.
Dividend: Attractive to income investors with a 3% dividend yield.
Market Position: Well-positioned in the retail market, even with recent store closures and challenges.
YTD performance through July 8: +5.9%
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
NEWSLETTER CORNER🗞️
Subscribe To Our Friends!
QUOTE CORNER📄
Quote of The Week
You are now closer to money mastery!🎉
What did you think of this week’s newsletter?
Did you like it? How can we improve?
Hit reply and share some feedback!
Reply