The S&P 500 has risen in 2024 due to optimism about artificial intelligence, benefiting chip stocks and utilities.
Investors should focus on companies with strong long-term growth potential.
Top Wall Street analysts can guide investors on stocks that may offer good returns.
Here are three stocks recommended by top analysts on TipRanks.
Fortinet (FTNT)
Fortinet, a cybersecurity firm, aims to lead in secure access. Analyst Shaul Eyal from TD Cowen has a buy rating and increased the price target to $90, citing strong demand and recovery in their business.
GitLab (GTLB)
GitLab is a cloud-based software company supporting developer productivity. Analyst Gregg Moskowitz from Mizuho maintains a buy rating with a price target of $62, noting potential growth in a large market.
Nvidia (NVDA)
Nvidia, a semiconductor leader, benefits from high demand for its GPUs in AI applications. Analyst Toshiya Hari from Goldman Sachs reiterates a buy rating and raised the price target to $150, anticipating continued strong growth.
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