Some small-cap stocks could rise above others as the rally to broadens out beyond mega-cap tech titans.
As the 2024 market rally broadens out, some small-cap stocks are poised to do better than others. This year's bull run has been led by mega-cap technology titans such as Nvidia , up more than 140% in 2024. But with interest rate cuts on the horizon, the prospects for small-cap stocks have improved in recent weeks. The Russell 2000 small-cap index has already risen more than 6% in July alone. Against that backdrop, CNBC Pro screened for the small-cap stocks that could be poised for a boost.
"We believe near-term expectations are reasonable, and given the stock's negative sentiment and recent market volatility, we decided to move to the sidelines," wrote analyst Chris O'Cull. His price target of $60 implies that shares could rally about 41% from their Thursday closing price. Wall Street also sees shares of fast-food chain Jack in the Box potentially rising 23%. Shares have plunged 35% year to date.
Janus International Group Inc Canadian Solar Inc Shutterstock Inc Jack In The Box Inc Papa John's International Inc Russell 2000 Index NVIDIA Corp Stock Markets Investment Strategy Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This small-cap tech stock is set to rally nearly 30%, TD Cowen saysSecular industry tailwinds and a diversifying consumer base set up this tech stock to be TD Cowen's top small- and midcap pick.
Read more »
Goldman's top stock strategist explains why small caps are rallying so muchAs investors expect the Federal Reserve to cut rates by September, and possibly December, Goldman Sachs’ David Kostin sees small-caps as poised for more gains.
Read more »
The small cap rally ‘has legs,’ says Citi’s stock strategist Scott ChronertChronert highlighted attractive valuations for the small cap sector and its exposure to banks.
Read more »
Stock market today: A washout on Wall Street sends stocks, big to small, lowerA widespread washout across Wall Street dragged U.S. stocks lower.
Read more »
Small caps are the hottest trade going in the stock market right now and they're up again TuesdaySmall-cap stocks are on a tear right now as they took the baton from megacap technology shares to lead the market rally.
Read more »
Small caps are the hottest trade going in the stock market right now and they're up again TuesdaySmall-cap stocks are on a tear right now as they took the baton from megacap technology shares to lead the market rally.
Read more »