Top 5 Investment Picks for 2024

Leading Investment Opportunities for 2024

Investing in stocks remains a powerful strategy for securing financial growth. For 2024, several promising stocks stand out, including:

General Motors (GM)
Many believe the auto industry's cycle has peaked, but this doesn't guarantee decline. Technological advances in electric and autonomous vehicles position GM to thrive. The company possesses the capabilities to surpass Tesla in electric and hybrid markets. Currently trading at a P/E of 4.3, analysts expect this ratio to increase to nearly ten, potentially doubling GM's value from $38 to around $80 within a year or two, making it a top investment pick.

ONE Gas (OGS)
The rise in natural gas supplies due to advanced technologies like hydraulic fracturing and horizontal drilling has stabilized prices and increased demand. Companies focused on eco-friendly energy distribution, such as ONE Gas, are positioned for growth. Located in a rapidly expanding region, it benefits from population growth and regulatory policies favoring returns on capital improvements. These factors suggest high potential for stock appreciation and dividend growth. Additionally, strategic acquisitions by similar companies could uplift ONE Gas’s stock value in 2024.

USG Corporation (USG)
USG is a leader in environmentally friendly construction materials, aligning with the green building movement. It exhibits solid fundamentals and consistent growth, often ranking high among competitors. As a founding member of the US Green Building Council, USG is at the forefront of sustainable construction. Projected demand for green building materials is expected to grow at around 9.5% annually, reaching $69 billion by 2019, with continued growth projected to nearly 13% CAGR by 2024. Adoption of eco-friendly materials offers cost savings and health benefits, fueling industry expansion.

Independence Realty Trust (IRT)
Despite rising interest rates impacting real estate, IRT offers attractive investment potential. It provides a high dividend yield of 8%, double that of many competitors, making it a compelling option. Although increasing rates pose risks, expectations suggest rate hikes will slow in late 2024. IRT's low valuation and strong dividend make it an appealing choice for investors seeking income and growth with minimal risk. Strategic increased equity could further boost its stock performance.

Forterra (FRTA)
Specializing in water infrastructure products, Forterra generates over $1 billion annually and plans strategic acquisitions in 2024. Its market barriers and limited competition make it a secure investment. Despite holding around $1.1 billion in debt, improved cash flow is expected to reduce liabilities and enhance earnings ratios. If acquisitions proceed smoothly, Forterra’s stock could reach approximately $30 in 2024, reflecting growth potential driven by industry demand and operational improvements.