While concerns about a potential US recession persist, growth stocks have continued to outperform value stocks in 2024.
Investors remain optimistic that the Federal Reserve’s expected interest rate cuts will further support high-growth companies.
CFRA analysts have identified several top-performing stocks that have consistently reported strong revenue growth, making them attractive options in the current market environment.
Here are 5 of CFRA analysts’ top growth stocks that have reported at least 15% annual revenue growth in the past three years:
Nvidia (NVDA) leads AI-driven growth boom
Semiconductor giant Nvidia has been a standout performer in the stock market over the past 15 years, and its growth trajectory shows no signs of slowing.
The company reported an impressive 94% year-over-year revenue increase in the fiscal third quarter, with net income soaring by 109%.
Analyst Angelo Zino remains bullish on Nvidia, citing its expanding market reach into edge devices and software-driven revenue streams.
He projects 43% revenue growth in fiscal 2026. CFRA maintains a “buy” rating for Nvidia, with a price target of $165 which closed at $135.29 on February 13.
Tesla (TSLA) eyes regulatory boost for autonomous driving
Tesla, the leading US electric vehicle manufacturer, has faced slowing revenue growth, with just a 2% increase year over year in the fourth quarter.
Its core automotive segment even reported an 8% decline.
However, analyst Garrett Nelson believes Tesla’s fortunes could improve under a potential Trump administration, which may accelerate regulatory approvals for autonomous driving technology.
Additionally, Tesla is expected to launch its Cybercab project by 2027.
CFRA projects a revenue rebound to 16% growth in 2025 and has a “buy” rating for Tesla, with a $540 price target. Tesla closed at $355.94 on February 13.
Broadcom (AVG0) benefits from AI infrastructure demand
Broadcom, a major player in the semiconductor industry, has posted strong growth figures, with 44% revenue growth in fiscal 2024 and 51% growth in its latest quarter.
Analyst Angelo Zino sees Broadcom’s application-specific integrated circuit and switching businesses benefiting from the ongoing artificial intelligence infrastructure boom.
Additionally, the company’s integration of VMware has been smooth, with room for margin expansion in its software segment.
CFRA projects Broadcom’s revenue to grow by 19% in 2025 and 15% in 2026, maintaining a “buy” rating and a price target of $265.
Broadcom closed at $235.80 on February 13.
Eli Lilly (LLY) rides the weight loss drug boom
Pharmaceutical giant Eli Lilly continues to benefit from the surging demand for GLP-1 weight loss drugs.
The company’s diabetes and weight loss drug Mounjaro saw 60% revenue growth in the fourth quarter, while revenue from Zepbound jumped from $175.8 million to $1.9 billion year over year.
Analyst Sel Hardy believes Eli Lilly will remain a key player in the booming weight loss drug market in 2025.
CFRA has a “buy” rating and a $970 price target for the stock. The stock closed at $870.36 on February 13.
JPMorgan (JPM) gains strength from banking sector rebound
JPMorgan Chase, one of the world’s largest banks, reported a strong fourth-quarter performance, with revenue rising 10% and net income surging 50%.
Following its acquisition of First Republic Bank during the regional banking crisis, JPMorgan has reinforced its leadership position in the financial sector.
Analyst Kenneth Leon expects a strong US economy, a recovering investment banking business, and potential policy shifts under a Trump administration to further benefit the bank.
CFRA maintains a “buy” rating for JPMorgan with a price target of $275. The stock already surpassed the target and closed at $276.32 on February 13.
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