Watch out for Nike, Coca-Cola, and Zinga in 2020
According to Wall Street analysts, Nike, Coca-Cola and Zinga are among the stocks to watch for 2020. They further state that the upcoming new year is going to be much more favorable for the said stocks.
Among the top picks in the near year, many well-known stocks as well as not so well-known stocks are included. According CNBC, the stocks include The Trade Desk, Apple, Nike, AT&T, Coca-Cola, and Zynga.
This week, Wells Fargo & Company, an American multinational financial services company headquartered in San Francisco, named Nvidia as its top semiconductor stock for 2020. The company stated that it liked the upwards trajectory of the company’s three main businesses, which include gaming, automotive and especially data centers.
“We see NVIDIA representing the most significant investor sentiment upside driven by our expectation of a meaningful reacceleration in data center growth through 2020,” analyst Aaron Rakers said.
Nvidia is a “conversational AI driven story with increasing confidence in data center growth visibility,” he further added.
According to Needham analyst Laura Martin, another stock to watch in 2020 is The Trade Desk.
“We expect senior executives at FB, GOOGL and AMZN to be distracted by regulatory and legislative pressures in 2020, which might slow ad spending growth inside these Walled Gardens and accelerate ad revenue growth in the ‘open internet’ where TTD is the largest player… TTD is our top stock pick for 2020,” Martin said.
(Image source: Tingshu Wang | Reuters)