As the year races towards the holiday season and investors start contemplating the opportunities awaiting in 2024, it is easy to forget that there are still lucrative prospects to explore as the year comes to a close. November is far from the end of the line, and the stock market still has more than a few possibilities if you are prepared to seize them.
So, let us take a look at five top stocks that might be worth adding to your portfolio this month. Spanning multiple trending industries and packed with growth opportunities, there is plenty to get excited about as an investor in November.
Santos (STO.ASX)
Sector: Energy
Santos reported a 7% increase in revenue in Q3, with this boost attributed mainly to higher commodity prices, which have bolstered the energy sector. However, the global energy market remains in flux – largely due to geopolitical tensions in Ukraine/Russia and Israel/Palestine, as well as various supply-and-demand factors that have come into play.
Predicted performance: Santos is well placed to benefit from ongoing elevated commodity prices as geopolitical tensions persist. With oil and gas in high demand, the energy giant is poised to reach the end of the year on a positive note.
Invest in Santos
Visa (V)
Sector: Financial services – digital payments
As a global leader in digital payments, Visa has consistently performed well over the years. While it might not have the lowest P/E ratio, it is still lower than the broader average. Moreover, the company’s strong presence in the digital payments sector makes it a formidable player – and an exciting prospect for savvy investors.
Predicted performance: The stock is expected to gain momentum during the lead-up to Christmas, as the holiday season is a time for monumental consumer spending, particularly on e-commerce platforms. Visa’s digital payment solutions will undoubtedly be in high demand in the next few months.
Invest in Visa
BAE Systems (BA.L)
Sector/Industry: Aerospace and defence
BAE Systems, arguably the most well-known global defence and aerospace company, remains a steadfast player in its industry. Given that the geopolitical landscape globally has become increasingly complex in 2023 and fraught with new tensions, governments around the world are expected to ramp up their defence spending as a consequence.
Predicted performance: BAE Systems is a stock to watch as wars break out and geopolitical tensions continue to simmer. As governments allocate more resources to their defence budgets, the company will experience increased demand for its products and services – a trend likely to continue in the months and years ahead.
Invest in BAE Systems
CSL (CSL.ASX)
Sector: Biotechnology and pharmaceuticals
CSL shares have faced various challenges in 2023 so far, from management changes to macroeconomic forces. Despite the boom of weight-loss drugs, the company’s famous Ozempic drug has led to a series of setbacks for CSL and other biotech stocks. These factors have all contributed to a decline in CSL’s stock price over the past six months – but therein lies the opportunity for investors.
Predicted performance: The current sell-off of CSL shares is likely overdone. The market’s reaction to management changes and Ozempic’s performance may, as a result, present an opportunity for investors. As a leading biotechnology and pharmaceutical company, CSL holds a powerful position in the industry that even its closest rivals cannot match. Its current weaknesses could provide the ideal entry point for investors who want to benefit from CSL’s long-term growth prospects.
Invest in CSL
Netflix (NFLX)
Sector: Streaming and entertainment
Netflix remains a dominant force in the streaming and entertainment industry. Recent hit shows, such as the David Beckham documentary, have attracted numerous subscribers to the platform. And despite the initial furore surrounding the company’s decision, their crackdown on password sharing has also resulted in a favourable uptick in subscriber figures.
Predicted Performance: Netflix is expected to maintain impressive revenue growth, with a double-digit increase anticipated in Q4. The platform’s consistent ability to attract subscribers, its efforts in thwarting unauthorised password sharing and its enormous content library are all reasons why the stock is expected to grow in the near term at least.
Even though you might be looking ahead to 2024, this November provides ample opportunities for investors to end their year on a high note. There are plenty of stocks to explore – no matter what sector you are most interested in – and now could be the right time to diversify into new markets. Remember that every new investment will carry its own level of risk, so do your own research and factor in your risk appetite before taking the plunge.
Invest in Netflix
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This communication is general information and for educational purposes only and should not be taken as financial product advice, a personal recommendation, or an offer of, or solicitation to buy or sell, any financial product. It has been prepared without taking your objectives, financial situation or needs into account. Any references to past performance and future indications are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication.