3 Wall Street Sweetheart Stocks Poised for More Gains

Market Overview - 2024 is projected to be a record-breaking year for Wall Street stocks, driven by AI demand and strong macroeconomic conditions [1] - The S&P 500 index has risen 17% this year, reaching an all-time high after a positive jobs report [1] - Experts anticipate the economy will maintain a "Goldilocks state" with stable consumer spending and inflation [1] Walmart (WMT) - Walmart reported a 6% increase in revenue to $161.5 billion, largely due to a 21% rise in global e-commerce sales [2] - The company expects net sales growth of 3% to 4% for FY25 [2] - JP Morgan upgraded Walmart's stock rating from Neutral to Overweight, raising the price target from $66 to $81, citing strong growth potential [3] CyberArk Software (CYBR) - CyberArk Software's revenue increased by 37% year-over-year to $221.6 million, with subscription revenue growing by 69% to $156.2 million [5] - The company acquired Venafi for $1.54 billion, expected to add $150 million in annual recurring revenue [5] - Analysts maintain an Overweight rating on CYBR, confident in its growth trajectory and the benefits of the Venafi acquisition [6] Darden Restaurants (DRI) - Darden Restaurants reported an 8.6% increase in sales for fiscal year 2024, driven by the addition of new restaurants [7] - The company expects total sales to reach between $11.8 billion and $11.9 billion in the upcoming year [7] - JP Morgan and Argus Research both maintain optimistic ratings on DRI, with price targets of $175 and $186 respectively, highlighting strategic investments and brand portfolio strength [8]