Bank of America reveals stocks poised for volatility

important point:

• Despite the market hitting new highs, Bank of America has identified stocks with growth potential, highlighting companies like Emerson Electric, Rollins and Progressive.
• Emerson Electric is highlighted for its solid growth profile and not being affected by the macroeconomic downturn, raising its share price target to $1,300.
• Rollins and Progressive are known for their recession resilience and growth potential, with Rollins excelling in pest control and Progressive in auto insurance, which has seen its share price rise 25% this year.

In the dynamic world of the stock market, finding stocks with significant growth potential is a constant quest for investors, even when the market hits new highs. Bank of America highlights several companies that, according to its analysis, still have a long way to go.

Promising Stocks Identified by Bank of America

According to a detailed study from Bank of America obtained via CNBC Pro, there are certain buy-rated stocks that are expected to outperform the market. Among these are:

• CrowdStrike
• emerson electric
• progressive
• rollins
• O’Reilly Automotive

These companies not only show strong current performance, but also show great potential for growth in the future.

Emerson Electric: Innovation and Growth

Bank of America analyst Andrew Obin chose Emerson Electric after several meetings with the company. According to Obin, Emerson Electric is not only enjoying a superior growth and return profile, but it also has a deep product portfolio and is not affected by the macroeconomic downturn. The acquisition of National Instruments by Emerson is well positioned to take advantage of synergies. The price target on its shares was raised to $1,300, a high point in the market. With its shares rising by 13% in 2024, Emerson Electric consolidates itself as one of the main options in its sector.

Rollins: Resilience in the face of recession

Jason Haas, another analyst, sees Rollins, a pest control company, as a stock with high growth potential. Haas highlighted Rollins’ resilience in the face of a recession and its diverse operations in the commercial, termite and residential sectors. With its share price up 4% this year, Rollins is shaping up to be an attractive long-term investment.

Progressive: A promising future in insurance

Joshua Shanker sees a bright future for auto insurer Progressive. After the quarterly earnings call, Shankar is even more bullish on buying opportunities for this stock. Consider Progressive the least volatile stock in the S&P 500 with possibly better performance. Despite its share price rising 25% this year, it remains an attractive option for investors. Shankar has adjusted the price target to $2,610, highlighting the strong momentum of the business and its low risk profile compared to the broader market.

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