5 Blue-Chip Growth Stocks to Buy for 2024

With an average recommendation of 1.48, analysts are firmly in the buy camp when it comes to the social media giant. Even if those fears have any merit, bullish analysts think they’re overblown — and most analysts are indeed upbeat on Comcast’s stock. The Street forecasts average annual earnings growth of 16.5% a year for the next half-decade. Of the 26 analysts issuing opinions to S&P Global Market Intelligence, 21 have CMCSA at buy.

The company also updated its fiscal year 2024 outlook, forecasting EPS of $8.75 to $8.90, up from previous guidance of $8.55 to $8.85 per share. Darden also said it expects $11.5 billion in sales for its current fiscal year. Diversified health-care giant Abbott Laboratories (ABT, $59.46) is expected to deliver revenue growth of nearly 13% this year, according to Thomson Reuters, and earnings-per-share growth of 14%. Longer-term, analysts believe ABT will deliver average annual profit growth of nearly 12% for the next half-decade. Accenture easily topped the Street’s profit and sales estimates in the most recent quarter, but a drop in operating margins spooked investors, sparking a selloff. On average, however, analysts remain confident the stock is a buy.

Our top picks for blue chip stock trading platforms

Meanwhile, not a single analyst covering the nation’s largest home improvement retailer thinks the stock is a sell. Of the 34 analysts surveyed by S&P Global Market Intelligence, 24 have it at the equivalent of buy, while 10 say it’s a hold. Analysts at Credit Suisse say Merck needs to find additional products to drive revenue growth. However, the strength of Merck’s Keytruda and immune-oncology franchise keeps Credit Suisse firmly in the buy camp with a rating of «Outperform.» Analysts mostly shrugged off Costco Wholesale’s (COST, $185.52) disappointing second-quarter earnings report in early March.

William Blair Equity Research rates ACN at «Outperform» (equivalent of buy), citing the company’s strategic outlook. From financial services to the energy sector to tech stocks, brand-name companies with massive market values look like rock-solid buys, analysts say. To see which blue-chip stocks they love the most, we turned to data from S&P Global Market Intelligence. While its three-year revenue growth of 6.2% annually might not seem all that great, it’s led to a 25% growth in free cash flow (FCF) over the past two-and-a-half years. It won’t have any trouble continuing to pay its dividend and repurchase its shares in the years to come.

Related Stocks

While there is no formal definition of a blue-chip stock, these companies are known for being valuable, stable and established. They’re typically big names — often household names — in their industries, and investors count on them for their reliability. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances.

• Chief Operating Officer (COO) Ron Vachris will succeed Jelinek on Jan. 1 in what is expected to be a seamless transition.
• Many former high-fliers are quickly becoming “growth traps,” a term used to describe stocks that fail to hit lofty growth expectations.
• Bonds are debt instruments issued by governments or corporations, offering fixed interest payments over a specified period.
• While analysts see Marriott’s efforts from its Homes & Villas platform to be too little to move the needle, I believe the company will make the investments necessary to compete with Airbnb et al.
• However, this ratio was as high as 43.7 in October 2022, and above 50 the prior year, meaning the current mark could historically be considered low.

This included 384K fixed wireless net additions, up from 256K additions in the prior year. First half free cash flow improved to $8 billion from $7.2 billion in the prior year. Here are the 10 best gold stocks based on year-to-date returns for December 2023. The Coca-Cola Company has paid dividends to investors for over 120 years, since 1893. Whether you’re buying blue-chip stocks or not, building a portfolio out of individual stocks takes time and research. We believe everyone should be able to make financial decisions with confidence.

Top blue chip companies

Although GOOGL is under duress at the moment, the long-term story remains intact. It owns commanding market share in the fast-growing digital advertising industry, for one thing. Alphabet also has artificial intelligence, machine learning and virtual reality in its sights, and it’s already a major player in cloud-based services. On the bullish side sit analysts at JPMorgan, who told clients that Chevron stock’s swoon below $115 a share offers a «favorable» entry point. JPMorgan cited the company’s «balanced long-term story around production growth» and return of capital to shareholders, among other factors, for its optimistic view. Analysts are bullish on CSCO in part because it raised its quarterly dividend and share repurchase program in response to corporate tax cuts.

All told, analysts believe the stock will outperform the Standard & Poor’s 500-stock index by a solid margin over the next 12 months or so. But the worst of the patent losses are fading, bullish analysts say, and the launch of new blockbusters should fuel long-term growth. Although the current crop of iPhones might https://day-trading.info/scalping-forex-strategy-what-is-scalping/ not be runaway hits, the gadget remains wildly popular and gives Apple a powerful long-term edge. Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada.

It’s been rough several years for oil-field services companies like Schlumberger (SLB, $64.81), ever since prices for crude collapsed in 2014. Morgan Stanley analysts say the offshore drilling industry is undergoing a slow but steady recovery, and that bodes well for firms like Schlumberger. Shares in PayPal (PYPL, $74.78) took a hit in late March after analysts at Bernstein initiated coverage of the stock with a rating of only «Market Perform» (equivalent of hold). The analysts said they are neutral on the digital payments company because of «underappreciated business pressures surfacing for the leading online checkout button.» Among the pressures? Between all the cash the company is generating – and all the cash it’s returning to shareholders – analysts say CSCO trades at a «significant discount.» Analysts expect sales to improve almost 11% this year, according to data from Thomson Reuters.

Balancing your portfolio

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Analysts at Credit Suisse, who rate shares at «Outperform,» like Visa’s solid revenue growth and the potential for more stock buybacks thanks to corporate tax cuts. As the world’s largest payments network, Visa (V, $119.81) is well-positioned to benefit from the growth https://forex-world.net/brokers/interactive-brokers-career/ of cashless transactions and digital mobile payments. Indeed, analysts polled by Thomson Reuters expect Visa’s earnings to increase an average of 18% a year over the next half-decade. The bottom line is that analysts think Salesforce is a profit-growth machine.

#21: PayPal

It’s important to note that Berkshire Hathaway is the only blue chip stock on this list that doesn’t pay a dividend. CEO Warren Buffett has one of the most impressive track records of market-beating returns in history and prefers investing the company’s cash in lieu of paying dividends. Investing in blue-chip stocks is an investment strategy rooted in stability, reliability and calculated growth.

Nio Stock: Don’t Expect Patience to Pay Off in 2024

The broader Standard & Poor’s 500-stock index lost nearly 3%, while the technology-heavy Nasdaq Composite declined 2%. And the general retreat in share prices has analysts licking their chops over all the great buys to be found. While analysts see Marriott’s efforts from its Homes & Villas platform to be too little to move the needle, I believe the company will make the investments necessary to compete with Airbnb et al. Once upon a time, Kraft Heinz’s stock was struggling and investors wondered if its best days were behind it. A $15.4 billion non-cash impairment in February 2019 prompted me to argue seven reasons KHC stock was a contrarian buy. Starbucks comes with a dividend yield that’s only slightly higher than the average dividend yield for the S&P 500–and that’s okay.