As optimism around artificial intelligence continues to bolster the S&P 500 in 2024, top Wall Street analysts have identified key stocks poised for growth. Their insights, compiled by TipRanks, focus on companies with strong long-term potential.
Fortinet (FTNT)
Fortinet, a leader in cybersecurity, is gaining traction with its secure access service edge solutions. Analyst Shaul Eyal from TD Cowen reaffirmed a buy rating, raising the price target to $90. Fortinet’s growth is driven by its machine learning and AI technologies, with promising revenue forecasts and a focus on cloud security.
GitLab (GTLB)
GitLab, an AI-powered software company, is making strides in developer productivity and operational efficiency. Mizuho analyst Gregg Moskowitz maintained a buy rating, with a price target of $62. The company is well-positioned in its $40 billion market, driven by generative AI and increasing customer interest in its offerings.
Nvidia (NVDA)
Nvidia, a semiconductor giant, continues to see stellar revenue growth due to high demand for its GPUs used in AI applications. Analyst Toshiya Hari from Goldman Sachs raised the price target to $150, citing Nvidia’s competitive edge and future growth prospects with its Blackwell platform and increased cloud spending.
↔ 
↔ 
↔ 
↔ 
↔ 
↔ 
↔ 
↔ 
↔ 
↔ 
→ 
→ 
→ 
→ 
→ 
→ 
→ 
