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Special Report


TOP 5 STOCKS FOR 2024

By Louis Navellier, Editor, Growth Investor

Runaway inflation was a serious problem in 2022. High inflation coupled with
rising Treasury yields around the world and a Federal Reserve that tried to rein
in inflation by hiking key interest rates led to a very bad year for the U.S.
and the stock market.

In 2023, inflation began to cool off and the Fed stopped raising key interest
rates in the latter half of the year. However, there were still plenty of issues
for Wall Street to contend with, like surging Treasury yields, the U.S.
government’s spending spree, rising unemployment, as well as tensions boiling
over in the Middle East. 

Unfortunately, the problems of 2023 – especially inflation – will likely remain
a thorn in investors’ sides in 2024, but the good news is there is a way to not
only protect your portfolio, but to profit in the current environment.

All you need to do is invest in fundamentally superior stocks. Here’s why…

Historically, growth stocks and dividend stocks are your best defense against
rising inflation. The reality is that stocks are great inflation hedges because
they represent ownership in real businesses.

Even better, great businesses function as inflation “pass through” vehicles. An
inflation “pass through” vehicle is a business that “passes along” the price
increases that result from inflation.

The nominal price of inputs and product prices might change, but the businesses’
profit margins do not. They simply “pass through” the inflation, which allows
their profits and market values to rise along with prices.

Of course, you don’t want to invest in just any stock. You want the best of the
best… the companies whose growth won’t be curtailed by inflation and will
continue to boast strong earnings and sales growth.

In this report, I’m going to show you five companies that have emerged as the
crème de la crème that you should buy in 2024.

With strong sales growth and profits ahead, these stocks are must-haves for your
portfolio as we navigate our way through the year…


TOP STOCK NO. 1: DORIAN LPG LTD. 

Dorian LPG Ltd. (LPG) operates a fleet of “very large gas carriers,” or VLGCs,
that primarily haul liquified petroleum gas around the world. The company’s
fleet consists of 22 VLGCs, each with the capacity to carry 1.8 million cubic
meters (cbm). Dorian LPG has offices in the U.S., U.K., Greece and Denmark, and
it partners with several big-name oil companies, including BP, Petrobras and
Shell.

Due to record natural gas production and steadily rising crude oil production,
the U.S. is reasserting its energy clout and helping the world break away from
Russian crude oil. In fact, the U.S. recently reported record energy exports.

In January 2023, the U.S. exported 1.53 million barrels of crude oil per day –
and there weren’t any releases from the Strategic Petroleum Reserve during this
time. As the U.S. continues to ship more crude oil, as well as natural gas,
overseas, there’s one industry that should reap the rewards: tanker and
liquified natural gas (LNG) shipping companies.

I should also add that Bloomberg reported that there is a lack of liquified
natural gas to satisfy world demand in a transition to a green economy. This
essentially means that Dorian LPG should be able to charge high day rates for
its ships. There is no doubt that burning natural gas is cleaner than burning
coal, but global coal consumption continues to steadily rise, since emerging
markets like China, India, Indonesia, Malaysia and Vietnam rely on coal for
cheap electricity.

Given this, Dorian LPG should benefit immensely. For full-year 2024, analysts
expect earnings of $6.02 per share and revenue of $520.39 million, up from
earnings of $4.22 per share and revenue of $389.75 million a year ago.


TOP STOCK NO. 2: NVIDIA CORPORATION

NVIDIA Corporation (NVDA) is a leading computer graphics company – and it’s been
in the business for more than two decades. The company first invented the
graphic processing unit (GPU) back in 1999. From video games to professional
visualization, data center and automotive applications, NVIDIA’s graphics cards
enhance processing capability for its users’ computers.

Today, NVIDIA employs more than four million developers who create thousands of
applications for advanced computing. It owns a portfolio of more than 8,000
active patents, which is the largest portfolio of its kind. So, it’s no surprise
that NVIDIA’s technologies have been utilized by more than 40,000 companies,
including 15,000 startups, since its founding 24 years ago.

But NVIDIA refuses to rest on its laurels. The company continues to innovate,
and since 2014, the company has shifted its focus to five major markets –
gaming, professional visualization, data centers, auto and artificial
intelligence (AI).

Today, NVIDIA is at the forefront of the AI movement. In fact, NVIDIA dominates
the AI chips that are used in everything from data analytics to autonomous
vehicles, from data centers to supercomputers and from medical devices to
cybersecurity. The opportunities are virtually endless!

So, in my opinion, AI is hotter than hot – and given its strong earnings and
sales, NVIDIA is the clear leader.

For full-year 2025, analysts expect earnings of $16.07 per share on revenue of
$77.86 billion, up from earnings of $10.02 per share and revenue of $51.66
billion a year ago.


TOP STOCK NO. 3: NOVO NORDISK A/S

Novo Nordisk A/S (NVO) develops treatments to combat diabetes, obesity and other
chronic illnesses, as well as rare blood and rare endocrine diseases.

With headquarters in Copenhagen, Denmark, Novo Nordisk operates 80 offices
around the world, and its products are available in 170 countries. Breaking it
down further, the biotech company has 16 production sites in nine countries, as
well as 10 research and development facilities in five countries.

Novo Nordisk has dominated the diabetes treatment market, as its main goal is to
develop a cure for type 1 diabetes and help prevent type 2 diabetes and obesity.
To do this, Novo Nordisk provides care to more than 30,000 children with type 1
diabetes through its Changing Diabetes in Children program, and it aims to help
more than 100,000 children by 2030. It also slashed the cost of insulin in low-
and mid-income countries.

In regard to treatment options, Novo Nordisk offers a variety of insulin pens
for folks to administer their diabetes medication, as well as provides injection
needles and growth hormone pens. The company has also developed several
medications for the treatment of obesity, diabetes, hemophilia and growth
disorders, as well as hormone replacement therapies.

You’ve likely seen commercials for one of Novo Nordisk’s diabetes treatments,
Ozempic. The company has experienced increased demand for the treatment, which
should boost its top and bottom lines growth this year.

For full-year 2024, analysts expect earnings of $2.63 per share on revenue of
$37.89 billion, up from earnings of $2.22 per share and revenue of $31.83
billion in full-year 2023.


TOP STOCK NO. 4: PBF ENERGY, INC.

PBF Energy, Inc. (PBF) is a leading refiner and provider of petroleum products
in the U.S. and Canada. The company operates six refineries in the U.S.:
Delaware City, Delaware (180,000 bpd); Paulsboro, New Jersey (105,000 bpd);
Toledo, Ohio (180,000 bpd); New Orleans, Louisiana (185,000 bpd); Torrance,
California (166,000 bpd); and Martinez, California (157,000 bpd).

Through these facilities, PBF Energy produces gasoline, diesel fuel, jet fuel,
kerosene, liquified petroleum gases (LPGs), asphalt, coke, sulfur, distillates,
specialty chemicals, petrochemicals, heating oil and lubricants. PBF Energy also
operates logistics assets at each refinery, including pipelines, barges,
tankers, trucks, rail, ships and distribution terminals, to ensure the products
reach its customers.

For full-year 2024, analysts expect earnings of $7.43 per share on revenue of
$36.43 billion.


TOP STOCK NO. 5: SUPER MICRO COMPUTER

Founded back in 1993, Super Micro Computer, Inc. (SMCI) has been at the
forefront of technological change, developing a lot of firsts in the industry:
the very first x86 server boards based on Orion semiconductors, the first server
boards to support Intel Pentium processors, the first redundant cooling power
supply, the first dual Intel Xeon server – just to name a few!

Today, Super Micro Computer is well-known as a global leader in high-performance
server technology solutions. The company continues to provide a wide range of
servers, storage, motherboards, workstations and networking solutions, as well
as server management software. Super Micro Computer’s solutions are utilized in
several markets, including artificial intelligence, 5G, Internet of Things
(IoT), data centers, cloud computing, big data, enterprise, embedded and edge
computing.

While the company’s main headquarters are based in the U.S., Super Micro
Computer has operations in more than 100 countries around the world. Primarily,
these operations are in the U.S., Asia and Europe. And the company has a
three-million-square-foot global manufacturing footprint.

SMCI is also a well-known, global leader in high-performance server technology
solutions. The company primarily provides a wide range of servers, storage,
motherboards, workstations and networking solutions, as well as server
management software. And like NVIDIA, Super Micro Computer is well-positioned to
profit from the rising demand for AI technologies.

For full-year 2024, analysts expect earnings of $16.97 per share on revenue of
$10.1 billion, up from earnings of $11.81 per share and revenue of $7.12 billion
in full-year 2023.


THERE’S ALWAYS A BULL MARKET SOMEWHERE

There’s always a bull market somewhere – and right now the bulls are piling into
fundamentally superior stocks that will profit from runaway inflation.

The five top stocks we discussed today fit this description to a “T” and are
great bets for your money in 2024.

I hope you found this special report useful. Before we go, let me remind you
that you’re now also a member of my free Market 360 newsletter.

In Market 360, we discuss a variety of topics, ranging from the latest
happenings in the markets to updates on stocks, earnings, exciting new trends
and much, much more. Keep an eye on your email inbox for my next Market
360 article soon. I typically send them every Tuesday, Thursday, Friday and
Saturday. In the meantime, you can check out the Market 360 archive by clicking
here.

And if you haven’t yet, I recommend giving Portfolio Grader and Dividend
Grader a spin. These are incredibly powerful tools that individual investors can
use to help find the best stocks… as well as which stocks to stay far away from.

Sincerely,

Louis Navellier


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