4 stocks that analysts expect to grow over 40% this year
Investors who are in the market and looking for the optimal combination of dividend yield and growth potential in the coming year could be looking at some interesting options in the form of these four stocks.
According to Wall Street estimates, these stocks are projected to grow significantly by more than 40% in 2024, offering attractive opportunities for investors looking for both stable dividends and growth potential.
Vodafone Group $VOD+2.2%
Vodafone Group, a provider of telecommunications services in Europe and Africa, has seen its stock fall more than 13% in the past year. Despite these challenges, Vodafone is still a favorite of dividend investors thanks to its high dividend yield of 10.9%.
Analysts express a positive view of the company and see potential in it. With anexpected target price growth of over 61%, Vodafone could present an opportunity for investors who believe in the turnaround and long-term potential in the telecom sector.
Vodafone Group is currently investing in upgrading its infrastructure and developing new technologies, including its 5G network. This strategy could bring competitive advantages and support the company's long-term growth. Vodafone's leading market position in Europe and Africa provides it with a stable customer base, which could be very important to remain competitive in an era of technological innovation.
Crescent Point Energy $CPG-0.1%
Crescent Point Energy is a Canadian oil producer that offers a stable dividend. Although the stock has only gained a few % over the past year, Crescent Point Energy has seen significant growth over the past three years. Analysts express an optimistic view of the company, with an expected 59% upside to the target price. For investors looking for stability and potential in the energy sector, Crescent Point Energy could be an interesting choice.
Crescent Point Energy is actively engaged in strategies to reduce greenhouse gas emissions and develop renewable energy sources. This move towards sustainability may appeal to investors who prefer companies with a responsible approach to the environment.
The company is also focusing on the efficiency of its operations and cost reduction, which could positively impact its financial performance and bring stable growth.
Sasol Ltd $SSL+1.4%
Sasol Ltd, a global specialty chemicals and energy company, recently experienced poor performance, which led to a sharp decline in its share price. Although the stock has fallen nearly 40% over the past 12 months, analysts see the potential for a strong recovery in 2024. Sasol is attracting investors with a solid dividend in excess of 9%.
With a future earnings multiple of 7.8, Sasol appears to be an affordable option, and this may be attractive to those looking for opportunities in a recovering market. In addition, Sasol Ltd isengaged in large-scale projects in artificial intelligence and sustainability, which could contribute to its long-term growth.
The shift towardsinnovative technologies and green initiatives may be a key factor that will support shareholder value in the coming period. The outlook for Sasol also includes expansion into new markets, which could strengthen its global position and provide exciting opportunities for investors.
Sasol Limited
SSLIcahn Enterprises LP $IEP-0.4%
Icahn Enterprises LP, a holding company, bears the name of its founder Carl Icahn and operates businesses in a variety of industries. Despite the stock's 65% decline over the past year, the company maintains a dividend yield of 22.3%. Only some analysts are expressing the opinion that there could be a recovery, with an expected target price increase of 45%. Thus, Icahn Enterprises LP may represent a riskier but potentially profitable option for investors.
Although the recent decline in share value has presented several challenges, the holding company retains the confidence of some investors due to its strong leadership and ability to adapt to changing market conditions.
For investors looking for diversification through a high dividend yield holding, Icahn Enterprises LP may be an interesting 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 a thorough analysis of your own.
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