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Goldman Sachs highlighted 10 stocks with accelerating topline growth in 2024 from their “conviction list.”
Stocks tend to follow earnings revisions over time, according to Goldman Sachs’ January 2024 Top Themes for the Year Ahead report, published on Tuesday.
High quality earnings revisions usually start with how well sales are doing.
“Given the aforementioned expectation of a challenging top line growth environment, companies that can show sustainability of high sales growth and/or the acceleration of sales growth are likely to be rare and deserve an expanded valuation multiple,” the report said.
In addition, topline growth will be “increasingly scarce,” analysts said, and accelerating topline growth will become “even scarcer.”
These are the top 10 stocks with accelerating topline growth in 2024 with their corresponding sales growth year-over-year percentage:
- Jefferies Financial Group (JEF) – sales growth in 2023FY is -21%, and 32% in 2024FY
- Blue Owl Capital (OWL) – sales growth in 2023FY is 23%, and 25% in 2024FY
- Quanterix Corp. (QTRX) – sales growth in 2023FY is 13%, and 20% in 2024FY
- WW International Inc. (WW) – sales growth in 2023FY is -14%, and 14% in 2024FY
- Merck & Co. (MRK) – sales growth in 2023FY is 1%, and 6% in 2024FY
- Apple Inc. (AAPL) – sales growth in 2023FY is -3%, and 6% in 2024FY
- J.B. Hunt Transport Services Inc. (JBHT) – sales growth in 2023FY is -14%, and 5% in 2024FY
- Southern Co. (SO) – sales growth in 2023FY is -10%, and 5% in 2024FY
- TE Connectivity Ltd. (TEL) – sales growth in 2023FY is -2%, and 2% in 2024FY
- Chevron Corp. (CVX) – sales growth in 2023FY is -16%, and 2% in 2024FY
