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RBC gives its top stock picks for the fourth quarter
  + stars: | 2024-10-04 | by ( Sean Conlon | ) www.cnbc.com   time to read: +4 min
The fourth quarter is just getting started, and RBC Capital Markets sees some stocks slated for growth in the months ahead. Looking ahead, RBC unveiled a list of its top 30 high-conviction global stock ideas that it thinks are poised to outperform in the long term. As a result, RBC has an outperform rating on the name, with a price target of $48. "As proof-points to the success of this strategy emerge, we believe the stock could begin to re-rate higher," the analyst said. Software name CrowdStrike and British oil giant Shell were also picked for the fourth quarter's list.
Persons: Brad Erickson, Daniel Perlin, Perlin, Ferrari, Tom Narayan Organizations: RBC Capital Markets, Dow Jones, RBC, Sarepta Therapeutics, Amazon, P Global, PayPal, Reuters Locations: Italy
As the third quarter kicks off, RBC Capital Markets added a solar company and oil giant to its list of Top 30 Global Ideas for 2024. RBC's list includes the firm's highest-conviction stocks offering strong, long-term upside potential that its analysts view as "well-positioned in the current environment." For the third quarter, RBC added solar solutions provider First Solar , oil giant Shell and global logistics provider Brambles to its list. The bank also removed Mastercard and Alnylam Pharmaceuticals , which was its best-performing stock in the group last quarter. Digital payments stock PayPal is another RBC pick, with its price target suggesting 42% potential upside over the next year.
Persons: Graeme Pearson, CrowdStrike, Matthew Hedberg, Hedberg, Daniel Perlin, Brambles Organizations: RBC Capital Markets, RBC, Mastercard, Alnylam Pharmaceuticals, Big Tech, Pearson, PayPal, Shell, Australian, RBC . Locations: U.S
RBC Capital Markets is moving to the sidelines on shares of Affirm — at least in the near-term. Analyst Daniel Perlin downgraded the buy-now-pay-later company to sector perform from outperform, citing a difficult macro environment. The downgrade from RBC comes after Affirm posted a larger-than-expected loss for the fiscal second quarter and light guidance for the current period and full year. Along with the downgrade, Perlin adjusted his price target to $17 from $23 a share. So far this year, Affirm shares have surged nearly 66% after a tough 2022 that saw the stock crater 90%.
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