The stock market has had a stellar year in 2024, with the S&P 500 up 28% year-to-date. Some standout stocks have outperformed the index significantly, driven by strong growth trends in AI, clean energy, and semiconductor demand. Analysts remain optimistic about three “Strong Buy” stocks: Alphabet, Vistra, and Taiwan Semiconductor Manufacturing Company (TSMC), which also boast a Smart Score of “Perfect 10.”
- Alphabet (GOOGL): The tech giant’s expansion in AI and cloud services has driven its 41% YTD growth. Goldman Sachs reiterated a Buy rating, citing Alphabet’s AI leadership after the Gemini 2.0 launch. Shares trade at $196.66, with a $209.21 price target indicating a 7% upside.
- Vistra Corp (VST): The Texas-based clean energy leader has surged 280% YTD, backed by strong cash flow, renewable projects, and shareholder returns. Analysts highlight its growth potential from upcoming data center deals in key regions like PJM and ERCOT. Shares trade at $145.33, with a $156 target suggesting 7.3% upside.
- TSMC (TSM): Taiwan Semiconductor has gained 96% YTD, driven by rising AI chip demand and partnerships with AMD, Intel, and Arm-based vendors. Analysts expect further growth from expanded CoWoS capacity and advanced chip manufacturing. Shares currently trade at $202.22, with a $232.50 target reflecting a 15% upside.
These three stocks have proven their strength in 2024, outperforming the market with robust growth drivers. Backed by strong analyst ratings and a Perfect Smart Score, Alphabet, Vistra, and TSMC remain well-positioned to maintain their momentum heading into 2025.
This story was originally featured on Tipranks.com
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