3 Stocks That Could Rise 50% in 2024 After This Year's Rally

2023 was a year of notable success for several titles.
Despite the double-digit gains, analysts have identified 3 stocks that could rise 50% in 2024 after this year's rally.
What does the future hold? The shadow of recession and an economic slowdown does not scare analysts who maintain a positive view on some stocks.
In this article we will examine the reasons behind these optimistic outlooks and analyze the potential investment opportunities these 3 stocks could offer in 2024.
1) Liberty Broadband Corp (Nasdaq) Liberty Broadband Corporation, a cable, broadband and mobile location telecommunications holding company which operates through the companies Charter Communications (of which it holds 25%), and TruePosition, represents an interesting investment opportunity on the Nasdaq.
With its holdings in major cable operators and broadband service providers in the United States, the company has a strong presence in the industry and is well positioned to take advantage of the changing media and technology landscape.
Liberty Broadband's P/E ratio is 15.11.
FactSet analysts predict a potential upside of nearly 70% from the current value of $75.
Deutsche Bank sees the stock as a unique opportunity to invest in a company with a solid market capitalization, valued at $12.202 billion.
According to the bank's analysts, the stock's target price is around $108, with a potential upside of 43%.
Investors could be faced with a significant profit opportunity in 2024.
2) BT Group PLC (LSE) For investors looking for promising opportunities in 2024, BT Group presents itself as a fascinating investment prospect in the telecommunications sector .
The shares of the British company listed on the London Stock Exchange (LSE) have already increased by 18.3% during the current year and appear to offer further growth potential.
According to analysts at Morgan Stanley, BT's ace in the hole is its broadband network division, Openreach.
This segment, currently undervalued, could be the driving force behind a significant revaluation of stocks.
The positive outlook widens with JPMorgan's exciting outlook, which suggests 2024 could be a turning point for European telecoms companies, with BT leading the way.
The investment bank's analysis is based on a number of factors, including price increases, EBITDA growth, free cash flow increases and a "best-in-class" EPS outlook.
BT was even tipped as a top pick in the sector, with an “overweight” rating and a share price target that could rise to 290p.
BT's macroeconomic backdrop and internal outlook paint an interesting picture, with expected structural growth of 2-3%, a potential 34% upside in free cash flow by the end of the decade and dividend and growth prospects confirmed by the new CEO who will take office early next year.
In summary, investing in BT Group for 2024 could prove to be a strategic move, combining solid industry prospects with specific business dynamics that suggest a period of sustainable growth.
Barclays has a positive rating on the stock (buy).
3) JD Sports Fashion (LSE) JD Sports Fashion, a leading player in the British sportswear scene, has demonstrated an exceptional increase of 31.3% this year, outperforming the Ftse 100 index and capturing the attention of investors for the 2024.
With over 3,000 stores, the company has a clear propensity to continue its growth, supported by solid financial results.
Analysts, based on third quarter updates and the positive performance of similar companies in the United States, expect a further 50% increase next year, a figure that allows it to consolidate its leading position.
JD Sports Fashion published growing half-year results at the end of September, a significant increase in the interim dividend and confirmation of its prospects despite the difficult macroeconomic context.
In the six months to the end of July, the company reported an operating profit increase of 20% to £400m and pre-tax profit improved 25.8% to £375m, reflecting earnings per share growth of 30% .
The board responded with a more than doubled interim dividend.
The company, driven by a strategy focused on growing the premium Sports Fashion business, achieved impressive results in Europe (+27%) and North America (+15%), confirming the success of its strategic plan.
The expansion of the JD brand globally, with over 200 new stores expected during the financial year, combined with recent acquisitions, position JD Sports Fashion as an attractive choice for investors seeking excellence in the sportswear sector.
read also The 5 best high dividend (and discount) stocks for 2024 DISCLAIMER The information and considerations contained in this article should not be used as the sole or main support on which to make investment decisions.
The reader retains full freedom in his own investment choices and full responsibility in making them, since he alone knows his risk propensity and his time horizon.
The information contained in the article is provided for informational purposes only and its disclosure does not constitute and should not be considered an offer or solicitation to the public for savings.