Nvidia’s shares have gotten ahead of analysts’ consensus price target. But for United Airlines Holdings, analysts polled by FactSet see 47% upside over the next year. – Getty Images
Late in December, Nvidia Corp. topped a list of favorite stocks among analysts working for brokerage firms. But with the stock continuing to soar this year, running the same screen of the S&P 500 produces a different result, with Nvidia no longer even making the top 20.
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Back in December, the great majority of analysts polled by FactSet who covered Nvidia NVDA rated the stock a buy or the equivalent. Before the market opened on Dec. 26, their consensus price target for the stock was $668.11, which was 37% higher than the Dec. 22 closing price of $488.30.
Nvidia’s stock closed out 2023 at $495.22, having risen 239% for the year. So far in 2024, the stock has climbed another 83.5% to close at $908.88 on Wednesday. That is slightly above the new consensus 12-month price target of $904.55 for the stock.
Even though 54 out of 60 analysts still rate Nvidia a buy, the stock has gotten ahead of the analysts’ traditional consensus 12-month price target. That combination of favorable ratings and a target below the current price gives some food for thought: A year isn’t a lengthy period for a committed long-term investor.
Last week, we looked at Nvidia’s price-to-earnings valuation, which has come down significantly over the past year.
A new screen for favorites among the S&P 500
Beginning with the S&P 500 SPX, we narrowed the list to 74 stocks with at least 75% buy or equivalent ratings among analysts polled by FactSet.
Here are the 20 remaining stocks in the S&P 500 that are buy-rated by at least 75% of analysts and that have the highest 12-month upside potential indicated by the consensus price targets:
Company
Ticker
March 13 price
Consensus price target
Implied 12-month upside potential
Share buy ratings
United Airlines Holdings Inc.
UAL
$43.04
$63.46
47%
77%
First Solar Inc.
FSLR
$158.04
$226.83
44%
82%
Insulet Corp.
PODD
$175.54
$237.18
35%
83%
Aptiv PLC
APTV
$79.72
$103.73
30%
80%
Schlumberger Ltd.
SLB
$52.57
$68.15
30%
94%
Halliburton Co.
HAL
$36.53
$47.28
29%
88%
Zoetis Inc. Class A
ZTS
$176.23
$227.20
29%
88%
MGM Resorts International
MGM
$42.86
$55.24
29%
80%
Baker Hughes Co. Class A
BKR
$31.75
$40.55
28%
80%
Lamb Weston Holdings Inc.
LW
$102.94
$129.15
25%
93%
Carnival Corp.
CCL
$16.65
$20.88
25%
83%
Delta Air Lines Inc.
DAL
$43.91
$53.89
23%
96%
VICI Properties Inc.
VICI
$29.31
$35.78
22%
88%
UnitedHealth Group Inc.
UNH
$488.00
$595.73
22%
88%
Take-Two Interactive Software Inc.
TTWO
$144.89
$176.11
22%
77%
News Corp Class A
NWSA
$26.35
$32.02
22%
78%
Las Vegas Sands Corp.
LVS
$53.35
$63.95
20%
83%
SBA Communications Corp. Class A
SBAC
$219.80
$262.36
19%
82%
Teledyne Technologies Inc.
TDY
$421.24
$500.55
19%
90%
NextEra Energy Inc.
NEE
$59.54
$70.32
18%
77%
Source: FactSet
Click on the tickers for more about each company.
News Corp NWSA is the corporate parent of MarketWatch publisher Dow Jones.
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