Meet the 2 Best S&P 500 Stocks of 2024. They Could Soar Another 69% and 91%, According to Certain Wall Street Analysts.
Two trendy artificial intelligence (AI) stocks have led the S 500 higher in 2024. When the market closed on April 24, Nvidia (NASDAQ: NVDA) and Super Micro Computer (NASDAQ: SMCI) had notched year-to-date gains of 61% and 166%, respectively, surpassing every other stock in the index. Even so, certain Wall Street analysts are forecasting substantial gains for shareholders over the next year.
Specifically, Hans Mosesmann at Rosenblatt recently raised his price target on Nvidia to $1,400 per share, implying 69% upside from the current price of $826 per share. Similarly, Ananda Baruah at Loop Capital recently raised his price target on Super Micro Computer to $1,500 per share, implying 91% upside from the current price of $787 per share.
Investors should never fixate on forecasts, especially forecasts that come from individual analysts, but Nvidia and Supermicro warrant further consideration.
Source Fool.com
