First Solar named as one of RBC’s top stock picks for the remainder of the year

Investing is always a hot topic, especially when it comes to top picks for the future. Recently, RBC Capital Markets released its list of Top 30 Global Ideas for 2024, adding a solar company and oil giant to the mix. This list includes stocks that the firm’s analysts believe offer strong long-term upside potential and are well-positioned in the current environment.

What makes this list stand out is the impressive performance of the Top 30 group over the past few quarters. In fact, since its inception in 2019, the Top 30 global stocks have returned 77.8%, outperforming the MSCI World Index’s total return of 63.0% over the same period.

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For the third quarter, RBC has added some exciting picks to its list, including solar solutions provider First Solar, oil giant Shell, and global logistics provider Brambles. These companies are expected to see strong performance ahead, with potential upside ranging from 19% to 42%.

First Solar, in particular, is expected to outperform its peers due to its strong visibility of future revenue and profit margins, as well as its favorable regulatory environment and product roadmap. With a $315 price target suggesting a 39% jump over the next year, this stock is definitely one to watch.

Another standout pick is CrowdStrike, a cybersecurity company that was the second-best performer of last quarter’s Top 30 list. With a potential 7.5% gain from its last close and a $420 price target, this stock is poised for further growth.

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PayPal is also on RBC’s radar, with a price target indicating a 42% potential upside over the next year. The company’s pivot to focus on branded checkout and Venmo monetization could solidify its position as a leader in e-commerce and mobile payments.

Overall, these top picks from RBC Capital Markets offer investors a unique opportunity to capitalize on the potential growth of these companies in the years to come. With a proven track record of success, the Top 30 list is definitely one to keep an eye on for any savvy investor looking to make strategic investment decisions.

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