In light of anticipated economic challenges, including potential interest rate hikes and a possible mild recession in the U.S., investors may find it increasingly difficult to identify reliable growth stocks. Despite these concerns, growth stocks outperformed value stocks in 2024, and this trend is expected to continue as the Federal Reserve considers interest rate cuts. CFRA analysts have identified ten top growth stocks that have demonstrated at least 15% annual revenue growth over the past three years.
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Nvidia Corp. (NVDA)
Nvidia, a leading semiconductor manufacturer, has showcased remarkable growth, with a 94% year-over-year revenue increase in the fiscal third quarter and a 109% surge in net income. Analyst Angelo Zino attributes this success to Nvidia’s expanding market reach into edge devices and new software opportunities. He projects a 43% revenue growth for Nvidia in fiscal 2026. CFRA maintains a “buy” rating with a $165 price target for NVDA stock, which closed at $131.14 on February 12.
Tesla Inc. (TSLA)
Tesla, the prominent U.S. electric vehicle manufacturer, reported a modest 2% year-over-year revenue growth in the fourth quarter, with its core automotive segment experiencing an 8% decline. Analyst Garrett Nelson suggests that CEO Elon Musk’s close ties with President Donald Trump could expedite regulatory approval for Tesla’s autonomous driving technology. Nelson anticipates a 16% revenue growth for Tesla in 2025 and expects the company to begin Cybercab production by 2027. CFRA assigns a “buy” rating with a $540 price target for TSLA stock, which closed at $336.51 on February 12.
Broadcom Inc. (AVGO)
Broadcom, a diversified designer and supplier of analog semiconductor devices, reported a 44% revenue growth in fiscal 2024 and maintained a 51% increase in the most recent quarter. Analyst Angelo Zino attributes this growth to the ongoing artificial intelligence infrastructure investment boom, benefiting Broadcom’s application-specific integrated circuit and switching businesses. He projects a 19% revenue growth in fiscal 2025 and 15% in 2026. CFRA maintains a “buy” rating with a $265 price target for AVGO stock, which closed at $236.35 on February 12.
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These companies, among others identified by CFRA analysts, have demonstrated strong growth trajectories and are poised to continue their upward momentum in the coming years. Investors seeking growth opportunities may consider these stocks as potential additions to their portfolios.
