5 Stocks to Spice Up Your Portfolio for the Year Ahead

In the last article, we delved into 5 stocks poised for success in 2024. Today, we shift our focus to the remaining stocks.

To analyze insightful data, we will harness the power of the InvestingPro tool.

1. Chevron /h2

Chevron (NYSE:CVX) is one of the world's largest energy companies.

Its shares fell in 2023 because 2 of its largest oilfields suffered production shortfalls, and investors found the deal whereby Chevron paid $60 billion to buy Hess (NYSE:HES) expensive.

Its stock is cheap and trades at 10.8 times projected 2024 earnings. In addition, it intends to repurchase $20 billion in shares annually.

Thus, it trades at a 15% discount to its average cash flow multiple and should have a total return (dividends + buybacks) of around +12% after the Hess deal closes.

Its dividend yield is +4.04%.

Source: InvestingPro

On February 2, it presents its accounts for the quarter. Looking ahead to 2024 the forecast is for earnings per share (EPS) to grow by +4.9%.

Source: InvestingPro

It has 25 ratings, of which 19 are buy, 6 are hold and none are sell.

The market sees potential at $178.53, while InvestingPro models see it at $171.47.

Source: InvestingPro

2. Alibaba/h2

Alibaba (NYSE:BABA) is one of the cheapest tech companies in the world. Its U.S.-listed shares trade at just eight times projected earnings in its current fiscal year ending in March.

Adding its e-commerce unit in China, its logistics and cloud computing businesses, and a stake in Ant Financial, the sum of the company's parts amounts to about $130 per share, nearly double the current share price.

Its dividend yield is +1.34%.

Source: InvestingPro

On January 31, we will know its accounts and earnings per share (EPS) are expected to increase by +6.34% and by 2024 by +14.5%, and revenue by +5.5%.

Source: InvestingPro

The market gives it a potential of $124.73, while InvestingPro models see it at $113.96.

Source: InvestingPro

3. Hertz Global/h2

The market didn't like Hertz's (NASDAQ:HTZ) big bet on electric vehicles (11% of its fleet) and it backfired, as the company is earning less than estimated.

But the car rental sector is 90% controlled by Enterprise, Avis, and Hertz, and even with earnings estimates cut, Hertz trades at a low price with 8.6 projected earnings by 2024. It trades at a very attractive price for patient investors.

The company does not distribute a dividend.

It reports its quarterly results on February 26 and is expected to increase its actual revenue by +4.15% and by 2024 by +4%.

Source: InvestingPro

The market sees potential at $13.50, with InvestingPro's models being more moderate, seeing it at $11.89.

Source: InvestingPro

4. Madison Square Garden Sports/h2

Madison Square Garden Sports (NYSE:MSGS) owns two of the most valuable professional teams in their respective sports: the New York Knicks and the Rangers.

According to Sportico estimates, the Knicks and Rangers are worth $7.4 billion and $2.45 billion, respectively. But the company's current market value of just $4.2 billion, plus about $300 million in net debt, is worth about half that.

The stock is below where it was five years ago and cheap. It does not distribute a dividend.

February 2 is the date set to release the quarter's numbers. Looking ahead to 2024, earnings per share (EPS) growth of +6.4% is expected.

Source: InvestingPro

It has 6 ratings, of which 4 are buy, 2 are hold and none are sell.

The market gives it potential at $244.60.

Source: InvestingPro

5. Pepsico/h2

The impact of weight-loss drugs on PepsiCo (NASDAQ:PEP) snack and beverage franchise will likely be minimal.

Although it is named after a soft drink, Pepsi has the best snack franchise and generates more than half of the company's profits, making Pepsi less dependent on sugary soft drinks than Coca-Cola (NYSE:KO).

Its shares trade at 20.7 times projected 2024 earnings, below its five-year average.

Its dividend yield is +3%.

Source: InvestingPro

On February 9, we will know its quarterly accounts. For 2024 the forecast is for earnings per share (EPS) growth of +7.9% and revenue of +4.7%.

Source: InvestingPro

InvestingPro models see potential at $191.91.

Source: InvestingPro

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Disclaimer: This article is written for informational purposes only; it does not constitute a solicitation, offer, advice, counseling or recommendation to invest as such it is not intended to incentivize the purchase of assets in any way. As a reminder, any type of asset is evaluated from multiple perspectives and is highly risky, and therefore, any investment decision and the associated risk remains with the investor.