Let’s Talk Money!: Top 5 Stocks to Buy for 2024 Returns
The stock market rallied about 10% in the first quarter of 2024. That’s the kind of return that usually takes a full year to play out. While the market rally has slowed, there are still ample opportunities for investors.
From here, most Wall Street analysts see slightly further gains. Many banks see markets rallying just another 5% or so through the rest of the year. Those estimates are based on corporate earnings.
If companies can grow earnings faster, returns may fare even better. But if earnings slow, markets will stay slow. The tech companies that pulled markets higher will likely lead a slowdown.
Based on analyst estimates, some areas could fare better than others. For instance, casino operator Caesars Entertainment (CZR) trades well below analyst expectations.
The company is expected to see strong earnings growth amid soaring tourism demand. And that could mean that share prices trade far higher, even if the rest of the market slows down.
Analysts are also bullish on solar stocks. These companies have been out of favor with the market for some time. As a result, shares of such companies such as First Solar (FSLR) could also see further upside.
In short, the best market returns for the rest of the year may not be in today’s winning stocks. It may come from more overlooked and out-of-favor names.