2023-12-11 05:12:00 ET
Wall Street analysts have thousands of active price targets on companies across the S&P 500 (SNPINDEX: ^GSPC) , but those estimates can be aggregated into a single number. That bottom-up methodology gives the index a 12-month target level of 5,059, implying 10% upside from its current level.
In short, Wall Street says the S&P 500 is headed higher in 2024. But even if those gains fail to materialize, patient investors who buy good stocks at reasonable prices have historically been well rewarded. Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) and Paycom Software (NYSE: PAYC) satisfy those conditions.
Both companies have clearly defined growth opportunities that make their current valuations look reasonable. And at less than $200 per share, the stocks are also relatively affordable. That makes Alphabet and Paycom no-brainer buys.
For further details see:
Wall Street Says the S&P 500 Is Headed Higher in 2024: 2 No-Brainer Growth Stocks to Buy Now With $200 and Hold Long Term