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Hello Stock Traders,

If you are looking for some exciting stocks to invest in for 2024, you might want to check out these three. They all have something special going on that could make them stand out in the year ahead.

You may have heard that Yahoo Finance crowned Novo Nordisk (NYSE:NVO) as its 2023 Company of the Year. This Danish company makes drugs that help people lose weight, and they are selling like hotcakes. Ozempic and Wegovy are the names of these wonder drugs, and they have made Novo Nordisk the most valuable company in Europe by market value. And guess what? They could do it again in 2024.

Novo Nordisk’s stock has soared nearly 42% this year, beating the S&P 500 by a wide margin, and leaving the Health Care Select Sector SPDR Fund (NYSEARCA:XLV), down 1% this year, in the dust.

But picking the top stocks for the next year is not easy. Sometimes, it’s a matter of luck and timing. Novo Nordisk is a good example of that.

Who would have thought that weight-loss drugs would be such a big deal in 2023? With so many people struggling with obesity around the world, you would think this issue has been around for a long time. But somehow, it caught the attention of investors this year.

The top stocks for 2024 are probably right in front of us, just like Novo Nordisk was at the start of 2023.

Here are the three stocks that I think could rock 2024.

Vanguard Long-Term Bond ETF (BLV)

You may think bonds are boring, but Goldman Sachs thinks otherwise. The investment bank has called 2024 the “Year of the Bond.” They think the bond market will shine next year.

Why? Because the economy is slowing down, and inflation is cooling off. That means lower interest rates, which are good for bond prices. And that means higher returns for bond investors.

The Vanguard Long-Term Bond ETF (NYSEARCA:BLV) is a fund that invests in long-term, high-quality bonds from the U.S. government and corporations.

The fund has 3,030 bonds in its portfolio, with an average yield of 5.2% and an average maturity of 22.6 years. That means these bonds pay well and have a long time to grow in value. While short-term bonds will suffer as rates fall, long-term bonds will benefit.

I know BLV is not a company, but the idea behind choosing companies of the year is to give you some smart investment tips that could make a splash in 2024. I think BLV could be one of them.

Brookfield Corp. (BN)

Brookfield Corp. (NYSE:BN) is a powerhouse in the world of alternative assets. It owns and runs things like buildings, companies, roads, bridges, loans, and more. It has done well in the stock market this year, up nearly 22%, but not as well as the S&P 500. Over the past five years, it has fallen behind the index by 264 basis points, up nearly 93%.

But I have a feeling that alternative asset managers could start a new wave of growth, like the one they had from March 2020 to December 2021.

In late November, Brookfield’s credit rating got a boost from DBRS from A (low) to A.

Brookfield’s President Nick Goodman was happy about the upgrade. He said it showed how strong their business was in good times and bad times. He also said it showed how they had a lot of different sources of income, a lot of cash flow, and a very solid balance sheet.

He added that the upgrade was a sign of their long-term commitment to being careful with their money and having a lot of permanent capital of $140 billion.

In the last 12 months until Sept. 30, Brookfield’s earnings that they can pay out were $5.0 billion. Per share, they went up 1.0%. That doesn’t sound amazing. But what matters more is how they can make money by buying and selling their assets.

Over the last 12 months, they have sold $35 billion worth of assets. Most of them were sold for more money than they were worth on their books. That tells investors two things: First, they are getting a good deal for their assets, and second, they are being honest about how much their assets are worth.

Brookfield is a great buy for the long term.

Pinterest (PINS)

I think 2024 will be the year that Pinterest (NYSE:PINS) rules social media. This will happen as the online advertising market starts to bounce back from its downturn over the past 12-18 months.

RBC Capital Markets gave PINS stock a better rating on Dec. 11, from Sector Perform to Outperform. They also raised their price target to $46 from $32, 23% higher than where it’s trading right now.

RBC said that investors were looking for new ideas for 2024, and PINS was a good way to bet on the shift of ads that target what people want to buy, chasing the $241 billion ad spending on impulse shopping. They also said that even though the number of users and the amount of ad spending go up and down, they wanted to own the big changes that Pinterest was making to its platform, according to Barron’s.

Pinterest has a “Buy” or “Overweight” rating from 67% of the 36 analysts who cover its stock. That’s up from 56% in September.

One of the big reasons analysts are more interested in Pinterest is the platform’s ad deal with Amazon (NASDAQ:AMZN), which will make ads sold by Amazon show up on Pinterest. This should make Pinterest have more kinds of ads and make more money from shopping on its platform.

In 2024, PINS could go back to the $80s, where it was in April 2021.

–James

Up next: Learn why a Wall Street bear has turned more bullish for 2024, thanks to the Fed’s policy change and its impact on the economy and the market.

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You might be surprised to hear this, but one of the most pessimistic voices on Wall Street just became more optimistic.

Michael Wilson, the chief equity strategist at Morgan Stanley, thinks that the Federal Reserve is doing a great job of steering the U.S. economy towards a sweet spot for the market.

He says that the Fed is no longer obsessed with inflation, but rather focused on keeping the economic growth going strong.

This could be good news for stocks, especially for those that have lagged behind the S&P 500 in 2023. These include small-caps and other sectors that are more sensitive to interest rates and the economy.

Wilson says that if the Fed can pull off a soft landing for the economy, without causing inflation to spike again, these stocks could benefit from a rebound rally that started in November and hasn’t stopped yet.

The iShares Russell 2000 ETF, which tracks small-cap stocks, has jumped almost 20% since the end of October. Last week, it reached its highest level since July, according to FactSet data.

The S&P 500, the main benchmark for the U.S. market, has gained 12.5% over the same period.

Wilson says that this is a bullish outcome for stocks, because it means that the chances of a soft landing have increased. He says that the Fed is more concerned about sustaining growth than bringing inflation down to its 2% target.

He also says that the U.S. economy could be in a sweet spot that would help the underperforming stocks catch up. He says that if inflation stays at a higher level, but doesn’t rise further, small-caps, cyclicals, and lower quality stocks could do well.

Of course, he admits that this is a delicate balance, and that if inflation numbers start to go up again, the Fed could change its course. But for now, he says that we could be in a sweet spot that supports this rotation, if the economy keeps growing.

Wilson also looked at how stocks have done in the past when the Fed has cut rates. He says that there could be more upside for the S&P 500 as well.

He says that despite the impressive gains in the past six weeks, small-cap stocks are still trading at a 30% discount to large-cap stocks, based on the expected earnings for 2024.

This is not the first time that Wilson, who was one of the most bearish strategists on Wall Street in 2023, has softened his stance. In July, he apologized to his clients as U.S. stocks kept rising.

Before that, he was one of the few who predicted the selloff in stocks and bonds in 2022, which resulted in the worst year for the S&P 500 since 2008. But he stuck to his bearish view throughout 2023.

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