The S&P 500 index has been on a breathtaking run, hitting new all-time highs 38 times so far in 2024. While some investors are concerned that the rally may be coming to an end, Wall Street analysts remain optimistic about the potential for certain S&P 500 stocks to continue their upward trajectory.
One such stock is CrowdStrike Holdings (CRWD), a cybersecurity specialist that recently made headlines for a software update that caused a global tech meltdown. Despite the short-term fallout, Oppenheimer analysts maintained their outperform rating on the stock, citing its best-in-class cybersecurity solutions and long-term growth potential. With a price target of $450, analysts see a potential upside of about 76% from the current price.
Another stock with significant upside potential is Charter Communications (CHTR), a provider of broadband internet, cable, and wireless phone services. While the end of the federal Affordable Connectivity Program has raised concerns among investors, MoffettNathanson analyst Craig Moffett remains bullish on the stock. With a price target of $660, Moffett sees an upside of about 80% compared to the current price.
Both CrowdStrike and Charter Communications have strong growth prospects and attractive valuations, making them appealing opportunities for investors looking to capitalize on the continued strength of the S&P 500 index. With Wall Street analysts bullish on these stocks, investors may want to consider adding them to their portfolios for potential long-term gains.
