3 Undiscovered Stocks on Wall Street to Buy Now

Although action Having seen strong performance last year, money manager Brian Wendig remains optimistic for 2024 and names some companies ignored by the market,

,We think the stock has an opportunity for appreciation as the earnings outlook for this year is broad and we have moved past the earnings slowdown seen for most of last year.Wendig, president of MJP Wealth Advisors, wrote to CNBC.

Keeping this scenario in mind, the expert established the sectors that provide the best performance for investors, such as health care, industrials, materials, financials and consumer majors.

Furthermore, he said that a good strategy for this year would be to “maintain a balanced portfolio between.”Value and Growth Stocks, Don’t Forget Small Caps,

3 stocks recommended by analysts

super micro computer

A company to be exposed “artificial intelligence mania” Wendig said.

Although it is not as well-known as other rivals, the company’s shares have overtaken Nvidia. They rose 246% last year and are up more than 250% this year, while Nvidia sees a 238% rise in 2023 and a 70% rise in 2024.

Additionally, super microcomputers were recently selected Integrate S&P 500,

Of the 16 analysts covering the stock, 11 rate it as a buy and only one calls it a sell.

palo alto network

It is a cyber security company that wants to add customers thanks to its premium software services.

,The strategic shift in customizing software services for customers could weigh on the stock over the next 12-18 months. However, the benefit of this will be that the company will build closer relationships with its customers which it will be able to leverage to move forward.The expert said.

The company’s shares did not have a good start this year and registered a decline of 1.2%.

Still, 33 out of 49 analysts covering the stock rate it a Buy. The average price target they set is $334, which implies a potential 16% upside.

PepsiCo

According to renowned food and beverage giant, Wendig, “Mega-Cap Companies That Have Durable Fundamentals and Pricing Power,

It’s important to clarify that the company’s quarterly earnings fell for the first time in almost four years, so it’s not the best reference to keep the firm in mind.

However, the analyst is optimistic because PepsiCo “has invested in expanding its beverage and snack offerings to health and wellness-focused products that require less exposure to the effects of Ozempic (a weight loss drug), which should aid future growth,

The company’s papers also did not have a good start to 2024, as they lost 4.6%.

Of the 22 analysts covering the stock, 11 have it a Buy rating, while PepsiCo has an average price target of $186.77, giving it an upside potential of about 14%.