5 Stocks Wall Street Believes Will Stage a Remarkable Recovery in 2024

investing.com:

While the first and second quarters saw many companies exceeding market expectations, the third-quarter forecasts are notably more conservative.

Among the companies in the S&P 500, there are 15 that have witnessed upward revisions in their earnings forecasts.

On the flip side, there's a 'blacklist' of stocks that Wall Street currently advises against buying, probably because they had a poor fiscal 2023.

This list includes companies like Franklin Resources (NYSE:BEN), Expeditors International of Washington (NASDAQ:EXPD), Robert Half International (NYSE:RHI), Principal Financial Group Inc (NASDAQ:PFG), Consolidated Edison Inc (NYSE:ED), Whirlpool (NYSE:WHR), and Amcor (NYSE:AMCR).

But in this article, we'll shift our focus to five companies that have piqued the interest of Wall Street experts, even after having a poor fiscal year in 2023.

Insulet Corporation (NASDAQ:PODD) develops, manufactures, and sells insulin delivery systems for people with diabetes.

The company sells its products primarily through independent distributors and pharmaceutical channels, as well as directly in the United States, Canada, Europe and Australia.

Its August 8 results were very good with earnings per share (EPS) beating forecasts by 43.9%. It will report its next results on November 2 and is expected to report a 9.2% increase in actual revenues.

The company also reaffirmed its annual sales forecast and raised its revenue growth forecast to 25% and the outlook for total sales growth of its insulin delivery devices to 28%.

Despite recent declines in its shares, the market gives the Acton, Massachusetts-based company a potential target of $272.

DexCom (NASDAQ:DXCM) is a medical device company that focuses on the design, development, and marketing