Three growth stocks that can revive your portfolio in 2024
These are three interesting stocks that should not escape your attention during this year. Despite recent turbulent market events, these stocks can offer steady growth and interesting investment opportunities.
We will focus on electric mobility, aerospace and renewable energy. These three sectors are constantly evolving and companies operating in these sectors offer investors interesting opportunities.
Fluence Energy $FLNC+0.0%
Fluence Energy, a leader in energy storage, is showing strong performance potential in early 2024. After a positive year in 2023, when the company achieved 85% year-over-year revenue growth and exceeded its own expectations, Fluence has a solid foundation for continued growth. The key is not only achieving the projected 2024 sales of $2.7 billion to $3.3 billion, but also transforming the backlog.
With a current backlog of $2.9 billion in orders and another $13 billion in the pipeline, Fluence's future is secure. Continued growth in work-in-process and order backlog in 2024 will likely drive the stock higher. For investors looking for titles in the renewable energy and energy storage space, Fluence Energy represents an interesting investment opportunity.
If the company achieves its targets and forecasted revenue, investors can expect the stock to rise further.
Despite the recent market fluctuations and stock value decline, Rivian is showing signs of a potential breakout. Despite negative reactions to 2023 production and shipment data, Rivian has ambitious plans to grow production and cut losses. While some investors may be waiting to see profitability, the company has solid reserves of nearly $8 billion.
While some fluctuations may be due to short-term factors, it is important to closely monitor whether Rivian delivers on its promises and maintains its production growth rate. The current situation makes Rivian a speculative investment opportunity, but for those who believe in the long-term potential of EVs and are willing to embrace short-term uncertainty, this young company could be an interesting addition to a portfolio.
The outlook for the future suggests that Rivian could be an interesting company in the EV market, whether it is creating new models or improving existing ones.
Hexcel, a specialty materials company, faces interesting opportunities in the context of the current development of the aerospace industry. Aircraft manufacturers, including giants such as Boeing and Airbus, are facing challenges in increasing production, which createsspace for specialty materials suppliers. Hexcel, with materials offering advantages in strength and weight over traditional materials, has the potential to become a key player in this area.
It's not just about current demand, Hexcel is also investing in expanding its capacity and reopening production lines, indicating a belief in long-term growth. With expected double-digit revenue growth and profit growth of over 30% in 2024, Hexcel has the potential to become a key player in the aerospace industry.
The company's position in materials and ability to respond to current market needs positions Hexcel well for growth in the coming year. Investors seeking opportunities in the aerospace industry should closely monitor Hexcel as a potential investment opportunity.
Disclaimer: There is a lot of inspiration to be found on Bulios, but stock selection and portfolio construction is up to you, so always conduct thorough self-analysis.