Analysts love these Warren Buffett-owned stocks, including one expected to rally more than 20%
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Stocks have been on a tear so far in 2024, but if legendary investor Warren Buffett’ s portfolio is any indication, there could still be more gains ahead for certain names. On Thursday, the S & P 500 and Nasdaq Composite both notched their best day in over a year, with the indexes adding 2.1% and 3.0%, respectively. Then on Friday, the 500-stock broad market index notched yet another all-time record closing high. The equity rally was fueled by chipmaker titan Nvidia , which soared 16% during Thursday’s trading session after blowing past analyst expectations for its fiscal fourth-quarter earnings and revenue. But even a rally of these proportions doesn’t mean that all future gains in 2024 are off the table for investors. In honor of Berkshire Hathaway ‘s fourth-quarter and full-year 2023 earnings report this Saturday, CNBC Pro looked through the holding company’s stock portfolio — as of the end of 2023 — and looked for the ones most liked by analysts. All stocks included in the table below met the criteria of being listed on either the Nasdaq or New York Stock Exchange, were covered by at least 10 analysts and were assigned a buy rating from at least 50% of analysts covering the name. All data was as of Feb. 22, 2024. “Magnificent Seven” titan Amazon was one name on the list. As of Thursday, 85% of analysts covering the stock had assigned it a buy rating, with an average potential upside of 23%. Shares of Amazon have risen 3% this week, after the announcement that it would be added to the 30-stock Dow Jones Industrial Average , replacing Walgreens Boots Alliance . Amazon has already gained 15% so far this year. Another name on the list was energy giant Chevron , which has rallied 4% since the start of 2024. About 62% of analysts covering the stock have assigned it a buy rating, with the average analyst predicting a potential upside of 14%. Earlier this month, Chevron stock edged higher after the company posted mixed fourth-quarter results but announced it would raise its dividend by 8%. More than three-fourths of analysts have assigned telecommunications giant T-Mobile a buy rating. On average, Wall Street consensus calls for the stock to rise an additional 13%, on top of the 2.5% T-Mobile has already gained this year. Shares of T-Mobile slid in late January, after the company reported mixed results for its fourth-quarter. While T-Mobile missed analysts’ earnings expectations, the firm posted a higher revenue than Wall Street had expected. Other names included on the list included credit card services providers Visa and Mastercard , drink manufacturer Coca-Cola and home construction firm Lennar . — CNBC’s Fred Imbert contributed to this report.
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