As the November election approaches, investors continue their search for the best stocks to buy. Economic trends and policy shifts often drive investors’ decision-making processes, but a group of underappreciated contenders deserves more attention.
Amid the myriad of opportunities across various sectors, there is a unique opportunity to achieve outsized returns. This approach will require careful consideration, with increased focus on sectors including infrastructure, healthcare and energy. The companies within these sectors often fly under the radar, have strong fundamentals and are backed by industry-specific tailwinds. Ultimately, this could position them to surge 50% or more under the right circumstances.
For investors looking to diversify their portfolios with high-potential opportunities, now is the time to consider these underappreciated gems.
Now, let’s discover the three best secret stocks to buy that could surge 50% or more before the November election!
First Solar (FSLR)
First Solar (NASDAQ:FSLR) is a prominent player in the renewable energy sector, specifically in manufacturing its proprietary ultra-thin photovoltaic (PV) panels. This technology is in extremely high demand, making First Solar one of the best stocks to buy now.
First Solar is off to an incredible start, with its stock up nearly 60% YTD compared to the S&P 500’s 15%. The company closed off a record year in 2023, overcoming supply chain constraints, inflation and higher interest rates. This is a true testament to management’s strong execution and focus on driving profitable growth. In FY23, the company delivered record revenue of $3.3 billion. Net earnings swung from negative to positive, with the company shipping a record volume of solar modules.
Moreover, its contracted backlog hit historic levels as it strategically invested in scaling manufacturing capacity. First Solar’s growth in Q1 FY24 also remained robust, with net earnings skyrocketing 456% year over year to $236.7 million. With earnings per share forecasted to nearly double in FY24, FSLR stock should certainly be kept on your radar.
Emcor Group (EME)
Emcor Group (NYSE:EME) is an American industrial and energy infrastructure company headquartered in Norwalk, Connecticut. Its impressive top and bottom line growth and its growing free cash flow profile make it a resilient player in the construction and infrastructure sectors.
Emcor Group truly does not get the attention that it deserves. However, the truth is that Wall Street is just starting to catch onto its growth story. Since the 2020 COVID-19 pandemic, the company’s revenue has grown by double digits as demand for its services remains extremely high. It continues to capitalize on the increasing investment in infrastructure and the ongoing demand for maintenance and construction services. This has contributed tremendously to its increased profitable and growing contracted backlog.
In its latest quarterly financial results, revenue increased 19% year over year to $3.43 billion. Earnings per share swelled 80% year over year to $4.17 per share, with record remaining performance obligations of $9.18 billion. Business is booming, and management significantly increased its FY24 earnings guidance range to $15.50-$16.50. This makes EME stock one of the best secret stocks to buy in 2024 and beyond.
Sterling Infrastructure (STRL)
Sterling Infrastructure (NASDAQ:STRL) stands out as a compelling choice among the top secret stocks to buy. The company’s expertise in civil construction, transportation and e-infrastructure solutions makes it a primary beneficiary of global infrastructure spending over the next decade.
Sterling Infrastructure’s growth is driven by the pressing need to expand and upgrade aging infrastructure in the United States. Its prowess in heavy civil construction and reputation for delivering complex projects have increased demand for large-scale infrastructure projects. This demand has remained strong over the last several years, providing the company with ample runway for accelerated revenue growth and profitability. In FY23, revenue increased 11% year over year to $1.97 billion. Net earnings swelled 30% yearly to $138.66 million, or $4.44 per share.
Moreover, its growth has not slowed, and its earnings rose significantly in the first quarter of 2024. Earnings per share rose 56% yearly to $1.00 per share, with its contracted backlog hitting a record $2.35 billion. As economic policies focus heavily on oTRL stock could surge higher in the back half of 2024 on infrastructure investments.
On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
