Stocks like Microsoft offer 'double digit growth' ahead thanks to AI, Wall Street analysts say

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Wall Street analysts said this week there's a host of stocks that are positioned to profit from artificial intelligence.

The artificial intelligence wave continues to wash over Wall Street, with analysts naming a host of stocks this week that offer more upside. Analysts say these stocks have double-digit growth potential and investors should buy shares now.

Pro combed through Wall Street research to find stocks that are best positioned to gain from AI. They include: Microsoft, Wayfair, Pearson and Broadcom. Wayfair DA Davidson left a recent investor meeting with increased conviction in shares of online furniture and household goods retailer Wayfair, investment bank said recently. "We have a high degree of confidence in management's ability to achieve double digit top line growth and at least a 10% adj.

margin, in a normalized environment for the home category," analyst Tom Forte wrote. Davidson admitted that the home category is displaying some degree of uncertainty, but Forte says he has confidence in Wayfair management's ability to deliver. "This confidence comes from management's track record of setting and achieving its financial targets over the long-term," he added. Wayfair is a also long term beneficiary of AI, according to the firm.

margin, in a normalized environment for the home category. ... .This confidence comes from management's track record of setting and achieving its financial targets over the long-term. ... .there has been a lot of hype about the potential for AI to generate sales growth and margin expansion and we consider Wayfair to be one of the most technology proficient e-commerce companies in the market...

Source: News Formal (newsformal.com)

 

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