Few stocks are able to double in value over a single year, yet that's exactly what Nu Holdings (NYSE: NU) did in 2023 when shares zoomed from $3.50 to more than $8. The run may not be over. Nu stock was recently listed as one of Morgan Stanley's favorite stocks of 2024, with 95% potential upside based on analyst projections.

Nu stock has proven it can grow rapidly over short periods of time, but is there really another 95% in upside this year?

There are a lot of reasons to love Nu stock. The most obvious is that the company operates a high-quality business model within a high-growth industry.

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Source Fool.com