Barron’s 10 Favorite Stocks for 2024 include Alibaba, Alphabet, Chevron

Andrew Bary of Barron’s names the publication’s “10 Favorite Stocks for 2024”. The list includes Alibaba (BABA), which Barron’s calls “one of the cheapest tech-oriented companies in the world”, Alphabet (GOOGL), which Barron’s calls a potential “best bet” among 2023’s “Magnificent Seven” given its cost discipline and possibility of dividend payout, and Barrick Gold (GOLD), with the report stating that while gold prices are up over 10% this year, the stock is only up 3% despite having some of the world’s best mines. Barron’s also lists Berkshire Hathaway (BRK.B) given its strong balance sheet and reasonable valuation, BioNTech (BNTX) given that the company’s oncology-focused pipeline could prove more promising than some investors believe, and Chevron (CVX), which “remains one of the best-run big energy companies in the world.” The publication is also positive on Hertz (HTZ) due to its valuation and the possibility of a buyout, MSG Sports (MSGS), which owns two of the most valuable professional teams in their sports, and PepsiCo (PEP), given its “best-in-class snack-food franchise”, below historical average valuation, and dividend. Finally, Barron’s is positive on U-Haul Holding (UHAL) given its market position and “inexpensive” valuation of 14-times earnings.