WELL:CC - 3 TSX Stocks With Over 100% Upside in 2024
2024-01-31 21:30:00 ET
Over the last decade, there have been some huge opportunities among TSX stocks. Yet these opportunities have also come with downsides. Downsides that many investors fear won’t come back.
But today I’m going to look at three TSX stocks that could provide that opportunity to double your money or better in the next year. So today, let’s get into three on the TSX Today.
WELL Health
First up we have WELL Health Technologies ( TSX:WELL ), which has seen shares fall lower, before recovering late last week. WELL stock now trades at just under $4 per share as of writing. Yet the consensus price target remains at $8.08 according to analyst estimates.
This would provide investors with a potential upside of 102% as of writing! And that looks quite likely. Analysts continue to give the company strong buy recommendations pretty much across the board. WELL stock has proven that it can continue to tackle the virtual healthcare sector, and expand beyond Canadian borders.
And that’s where even more opportunity lies. As interest rates fall along with inflation, there will be more opportunity for this stock to grow organically and through acquisitions. As that happens, shares are certain to rise even further. Given that its all time high is in the double digits, an $8 share price looks quite likely for investors today.
Poet Technologies
Keeping on the technology path, there is another stock that could absolutely soar in the coming year and beyond. Poet Technologies ( TSXV:PTK ) is a creator of highly demanded semiconductor products. Shares trade, however, at just $1.50 as of writing. That’s while shares hold an average price target of $8 as well.
That means shares could increase by an astounding 426% in the near future! But, of course, what comes with this stock is some risk. It hasn’t achieved the best results over the last few years, with the semiconductor business going from highly demanded, to highly expensive.
Even so, when interest rates and inflation start to fall, so will costs for this company. Therefore, Poet stock may end up being one of the TSX stocks that could easily double in the near future, and even more beyond that.
Wildbrain
Finally, we have the last of our TSX stocks that could more than double, and we’re rounding it out with WildBrain ( TSX:WILD ). WILD stock has been under the radar for some time, with shares currently trading at just $1.33 as of writing. That’s also because shares have dropped significantly, currently down by 53% in the last year alone.
Even so, analysts continue to believe the content creator for kids and families will see its shares rise again. That could be quite easy given the share price is so low. And the content encompasses globally recognized names including everything from Peanuts characters, Inspector Gadget, and the Degrassi franchise.
The $273-million company continues to pump out award-winning series, operating as Canada’s most-viewed family entertainment channel. So even though shares are down, look out for some changes in the future that could see them pop right up. How much? Analysts predict an average of $2.43, which would see a potential upside of 83% as of writing.
The post 3 TSX Stocks With Over 100% Upside in 2024 appeared first on The Motley Fool Canada .
Fool contributor Amy Legate-Wolfe has positions in Well Health Technologies. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .
2024