Follow the money. There's a lot of investing wisdom packed into those three words. Companies that generate huge profits and cash tend to have stocks that perform exceptionally well for investors over the long term.
Warren Buffett and Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) own many stocks, but not all are great buys right now. However, Buffett has a few in his Berkshire portfolio with strong potential that are priced right, and those look like great buys now.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts ofte
There's been a resurgence in stock splits in recent years, and the reason for the attraction is clear. The move is historically preceded by a long period of considerable stock price increases.
The Vanguard Growth ETF (VUG) was launched on 01/26/2004, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Growth segment of the US equity market.
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.
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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
Over the past four years, Wall Street has been particularly volatile, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite swinging back and forth between bear and bull markets on a couple of occasions.
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