Top Wall Street analysts are optimistic about the growth prospects of these 3 stocks
Investors had a volatile end to January as they weighed the Federal Reserve's pause on rate cuts, a busy earnings season and the prospect of new tariffs.
Given these dynamics and the volatility in the stock market, it could be difficult for investors to pick the right stocks for their portfolios. Tracking the recommendations of top analysts could be helpful in this regard, as they look beyond short-term noise and focus on companies' long-term growth potential.
With that in mind, here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance.
We start with streaming giant Netflix (NFLX). The company recently impressed investors with better-than-anticipated results for the fourth quarter of 2024, reporting about 19 million subscriber additions.
Reacting to the stellar Q4 print, JPMorgan analyst Doug Anmuth reiterated a buy rating on NFLX stock and boosted the price target to $1,150 from $1,000, saying "NFLX enters the new year firing on all cylinders."
Anmuth added that Netflix is gaining from a very solid content slate. While the Jake Paul and Mike Tyson fight, the Christmas Day NFL games and the second season of "Squid Game" were major content releases in Q4, the analyst noted the company's commentary that these three together accounted for only a small percentage of the overall subscriber additions and that the robust additions were driven by broad content strength.
The analyst also highlighted that Netflix is witnessing enhanced engagement per member household and encouraging retention. Reacting to the company's decision to raise prices, Anmuth expects only a little pushback in the U.S. and a few other markets, given the strong content. Looking