5 stocks in particular, belonging to the same stock sector, have a high upside potential in June 2024 according to analysts.
According to analysts, 5 stocks in particular are worth beingconsidered for purchase immediately, in the month of June, in light of a potential (and high) rise during the summer.
They all belong to the same sector.
We have analyzed the most recent reports published by investment banks and identified the 5 most popular stocks - to date - by analysts.
5 stocks to buy now according to analysts
Here are the stocks most loved by analysts in the technology sector (and why):
1. Datadog
According to Bank of America, the cloud-focused software company is “establishing itself as the next high-quality large-cap stock.”
Analyst Koji Ikeda recently upgraded his rating on Datadog shares from neutral to buy, underlining how "since its IPO, Datadog has shown a rather constant increase in terms of revenues and operating margin".
Furthermore, Datadog is one of the main beneficiaries of the artificial intelligence trend. Over time, AI will become a “significant growth driver” for the company, according to the analyst.
Furthermore, customer demand is solid, and Datadog’s “value proposition” is too attractive to ignore.
The company’s shares have fallen 10% this year, but Ikeda remains confident that the stock will rise next.
2. Broadcom
Ben Reitzes, analyst at Melius Research, changed the rating of the semiconductor company to buy.
The expert called Broadcom a “must own” AI stock despite stiff competition from companies like Nvidia. The company completed its acquisition of VMware in late 2023, a deal that Reitzes believes will be a long-term catalyst.
Reitzes then underlines his appreciation for Broadcom CEO Hock Tan:
“Tan has placed Broadcom on a strong path that should continue.”
Meanwhile, the company’s shares are up 26% this year.
The stock could hit an EPS of more than $70 within a few years, according to the analyst.
3. Uber
Whoever has the money, spends it: this is one of the most important catalysts for Uber’s shares according to Oppenheimer analyst Jason Helfstein.
“Retail sales continue to be strong, driven by affluent customers, who are the main ones
UBER consumers,” the analyst said.
Other positive catalysts for Uber include improved transportation solutions, market expansion, and recent developments in autonomous technology, Helfstein explains.
The company’s shares are up nearly 13% this year but remain attractive and undervalued.
4. Nvidia
Wells Fargo changed its rating of Nvidia shares to overweight, explaining how this decision is based “on our positive view on Nvidia’s competitive positioning in gaming GPUs and the expansion of growth opportunities in data centers, HPC and the emerging/expanding AI [...] We view Nvidia as one of the most attractive growth cases in the large-cap sector.”
5. Apple
For Goldman Sachs, Apple shares are a buy.
In the latest report on the Cupertino giant, analysts explain:
“We have a Buy rating on AAPL as we believe the market focus on slower product revenue growth masks the strength of the Apple ecosystem and the associated revenue durability and visibility […] The Rating it is attractive compared to AAPL’s historical multiple - both on an absolute and relative basis - and compared to the main technological competitors."
Original article published on Money.it Italy 2024-06-10 15:20:00. Original title: 5 titoli da comprare subito, secondo gli analisti
