Stock Hotlist: Top Picks for the Coming Week

Picking the wrong stocks can decimate your portfolio.

They’re pure portfolio poison.  

But the right stocks…

If you pick the right stocks, you could find yourself jumping for joy on top of an enormous pile of cash.

With over 4000 tickers to choose from, finding the right stock at the right time can prove to be nearly impossible… 

Unless you’re spending hours each day combing the markets and researching companies.  

That’s why we’ve done the legwork for you.  

We sort through thousands of stock ideas and whittle them down to a few top choices that are primed for solid price action in the coming days, weeks and months.  

This week, we’ve narrowed it down to three stocks that could be getting significant attention in the near future.

Meta Platforms (META)

Meta seems to have rediscovered its momentum, which bodes well for investors. Following a challenging 2022, the parent company of Facebook and Instagram has witnessed its stock price surge by 145% this year. The company is steering away from the metaverse, adopting cost-cutting measures, and emphasizing its focus on artificial intelligence (AI). In the wake of the impact of high interest rates, META stock is now indicating a robust return to growth, positioning it as one of the potential stocks to make investors millionaires.

Furthermore, the social media powerhouse has recently released financial results that have revitalized confidence in both the company and its shares. After the Q2 earnings report, META stock soared by 8%, fueled by earnings per share of $2.98, exceeding the projected $2.91 estimated by analysts. The company generated $32 billion in revenue, surpassing consensus predictions of $31.12 billion. This growth is attributed to a rebound in digital advertising across its social media platforms. Q2 revenue experienced an 11% surge from the previous year, marking the first time the company has reported double-digit growth in this domain since the conclusion of 2021. It might just be the right time to consider a purchase.

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Enbridge (ENB)

The spotlight has turned toward prominent Canadian energy transportation firm Enbridge due to its perceived undervaluation, evidenced by a 13.68% dip over the past year against a consensus price target that indicates plenty of room for growth.

Enbridge holds a significant position as a blue-chip dividend stock, boasting a substantial 7.2% yield. Notably, Enbridge is dedicated to delivering value to its shareholders, having accumulated savings of $1.2 billion since 2017. With a BBB+ credit rating, the company assures stability within the dynamic energy sector. Moreover, Enbridge’s historical resilience and strategic approach to debt utilization for capital investments contribute to its overall stability. The company’s strategic emphasis on natural gas aligns well with the evolving energy landscape, making it a potentially promising avenue for investors seeking to enhance their investment foundation.

Enbridge’s distinction among oil stocks stems from its expansive North American pipeline network. While recent stock fluctuations have occurred, the company’s fundamental role in energy infrastructure, coupled with a moderate buy consensus, hints at an appealing 18% upside potential for investors considering this opportunity.

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Accenture (ACN)

Recent developments have spotlighted the synergistic collaboration between Accenture and Nvidia, culminating in the launch of AI Lighthouse, harnessing Nvidia’s formidable AI supercomputing expertise. It’s evident that Accenture is not merely riding the AI wave but is also setting a trailblazing pace for others in the industry.

Accenture has showcased remarkable performance in 2023, marking a surge of approximately 16% year-to-date. This growth trend is solidifying its position as a compelling machine learning stock, catching the attention of many astute investors.

The recent release of third-quarter fiscal 2023 earnings has only reinforced this positive outlook. A robust revenue of $16.56 billion, exhibiting a 2.5% year-on-year increase, in combination with a net income of $2.01 billion, reflecting a substantial 13% growth, underscore the company’s operational prowess. Moreover, the diluted earnings per share (EPS) have significantly expanded by 13%, surpassing expectations by an impressive margin of 5%.Accenture’s proactive endeavors in the realm of AI and machine learning have been garnering significant attention. For investors with a discerning eye on high-potential machine learning stocks, Accenture is effectively illuminating the path toward a transformative AI-driven future.

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