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BofA Securities published its top 20 stock ideas for the first quarter of 2024.
These are 10 high-conviction short-term stock recommendations among U.S. stocks (S&P 500) that are under coverage at BofA, ranked based on “our view that these stocks could have significant market and business-related catalysts in the quarter ahead.”
They include 8 buys-rated stocks and 2 underperforming stocks — Core & Main and Tractor Supply — across 10 industries.
BofA will publish an updated list at the beginning of each quarter.
These are the top 10 stocks for 2024 Q1:
- American Homes 4Rent (AMH) – price to funds from operation in 2024: 20.5x
- Citigroup (C) – price to earnings in 2024: 7.9x
- Fidelity National Information Services (FIS) – price to earnings in 2024: 8.9x
- Humana Inc. (HUM) – price to earnings in 2024: 14.4x
- Intuitive Surgical (ISRG) – enterprise value to EBITDA in 2024: 36.3x
- Lear Corp. (LEA) – price to earnings in 2024: 7.9x
- Trex Company Inc. (TREX) – price to earnings in 2024: 36x
- Union Pacific (UNP) – price to earnings in 2024: 21.4x
- Core & Main (CNM) – price to earnings in 2024: 18.2x
- Tractor Supply (TSCO) – price to earnings in 2024: 22.7x