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Nasdaq AMZN Amazon

3 Large Cap Stocks 5-Star Analyst Picks for 2024

2 years 9 months ago
Five-star analyst  Ronald Josey of Citi named  large-cap stocks such as Amazon ( NASDAQ:AMZN ), Meta Platforms ( NASDAQ:META ), and Uber ( NYSE:UBER ) as his top picks for 2024 on December 20. Josey believes that the momentum in the broader internet sector will persist throughout 2024. Additionally, he notes that these large-cap companies are well-positioned to gain, given their significant cost reductions and focus on optimizing operations.  Before we dig deeper, investors might like to know that TipRanks developed a unique three-tier proprietary formula  to evaluate financial analysts. Furthermore, a five-star analyst demonstrates a high success rate coupled with a high average return and high transaction count.  With this backdrop, let’s look at the Street forecast for AMZN, META, and UBER stocks. Is Amazon Stock Expected to Go Up? Amazon stock has appreciated about 83% year-to-date. Its focus on reducing costs, strength in the cloud and advertising business, and aggressive investments in  Artificial Intelligence (AI) led to a rally in its shares.  While AMZN stock has gained significantly, Josey remained optimistic about AMZN’s prospects and maintained a Buy. Moreover, he increased the price target to $210 from $177. Including Josey, 43 analysts cover AMZN stock, and all recommend a Buy. Further, the  analysts’ average price target of $180.67 implies 17.76% upside potential from current levels. What is the Prediction for Meta Stock? Meta stock has rallied about 194% year-to-date. Despite this massive gain, Josey remains bullish about META’s prospects, and his price target of $425 implies more than 20% upside potential over the next 12 months.  Including Josey, 37 Wall Street analysts suggest buying META stock due to its reduced cost structure, growing ad revenues, and AI advancements.  Analysts’ average price target of $389.57 implies 10.24% upside potential from current levels.  What is the Forecast for Uber Stock? Uber stock is benefitting from an acceleration in trip growth, stringent cost discipline, and investments in growth initiatives. The stock has gained about 150% year-to-date. However, Josey sees further upside in UBER stock and raised the price target to $75 from $67, implying 21.5% upside potential from current levels.  Wall Street analysts are optimistic about UBER stock, with all 34 analysts covering the stock recommending a Buy. However, due to the significant appreciation in price, the  average UBER stock price target of $64.48 indicates that it has the potential to go up by 4.49% from current levels. Bottom Line Wall Street analysts are bullish about AMZN, META, and UBER stocks. While all these stocks have a Strong Buy consensus rating, analysts’ average price target suggests that Amazon has a higher upside potential compared to UBER and META over the next 12 months.  Disclosure
TipRanks

Guru Fundamental Report for AMZN

2 years 9 months ago
Below is Validea's guru fundamental report for AMAZON.COM INC (AMZN). Of the 22 guru strategies we follow, AMZN rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibi
Validea

3 Stocks I Hope Santa Delivers to Me Tonight

2 years 9 months ago
'Tis the season for giving gifts. Nobody is better known for his near-infinite generosity on that front than the legendary Santa Claus. Based on a fourth-century monk who was famous for giving away his wealth, the modern iteration of Santa Claus is known for delivering gifts to c
The Motley Fool

4 Things You Must Know if You Buy Amazon Stock

2 years 9 months ago
In the past, Amazon (NASDAQ: AMZN) has undoubtedly made for one of the best investments ever. Shares have soared 660% in the past decade and 6,110% in the past 20 years, outpacing the Nasdaq Composite index by a wide margin. Investors might hope that the same will happen in the f
The Motley Fool

This Phenomenal Segment Could Be Worth $550 Billion to Amazon

2 years 9 months ago
At a current market capitalization of $1.6 trillion and trailing 12-month net revenue of $554 billion, Amazon (NASDAQ: AMZN) is a gargantuan business that hardly flies under the radar. And the fact that its shares have skyrocketed more than 6,200% in the past 20 years attracts ev
The Motley Fool

3 AI-Backed Stocks That Could Return Magnificent Gains in 2024

2 years 9 months ago
Artificial intelligence (AI) made a huge splash in 2023 and is likely to continue making waves in 2024. After all, industry forecasts estimate the global AI market will grow from roughly $208 billion in 2023 to nearly $300 billion in 2024 and will continue expanding to reach $1.8
The Motley Fool
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