Stocks like Nvidia have more room to run, according to Bank of America The Wall Street investment bank recently named several companies that have the potential to generate solid returns. CNBC Pro combed through Bank of America research to find buy-rated stocks that are well positioned to succeed. They include: Viking , Nvidia, Apple, T-Mobile and Samsara . T-Mobile Bank of America analyst David Barden says T-Mobile’s business momentum is picking up, citing “strengthened confidence” following a series of investor meetings with company management. In particular, Barden is especially bullish on T-Mobile’s broadband opportunity. “Fiber strategy is about generating returns, plain & simple,” he said. Barden also says he likes T-Mobile’s proposed acquisition of U.S. Cellular’s wireless spectrum, believing there’s still market share to be gained in more rural areas. “We exited the meeting confident in TMUS’s ability to execute against its current plan and to continue identifying new growth segments within a mature market,” he added. Meanwhile, shares of the company are up 10% this year. Barden foresees a “long growth runway ahead,” he wrote. Viking The luxury cruise company that went public in early May is firing on all cylinders, according to Bank of America. Analyst Andrew Didora initiated coverage of the stock recently with a buy rating. “VIK operates a unique, high-end business model that generates daily net per diems of over $500 — higher than every cruise line, other all-inclusive resorts, and publicly-traded hotel companies,” he wrote. Viking has a “clear niche” catering to a specific customer base which makes it especially attractive, even as competition remains fierce, Didora acknowledged. Further, a deteriorating macroeconomic outlook adds some risk but is unlikely to present a significant challenge. Didora also says some of Viking’s maritime routes are seasonal, but that the shares, which climbed 8% in June, are too attractive to ignore at current prices. He characterized Viking as, “Sailing away with the luxury cruise market and superior returns.” Samsara The safety and efficiency software company is a “category leader, disruptor, and AI winner,” according to analyst Matt Bullock and team. Bullock recently initiated the stock with a buy, saying Samsara’s AI-enabled dash cams are raising the bar for roadway safety. “With AI-enabled dash cams and software for real-time driver coaching, enterprises reduce total accidents by ~29%,” the bank said. Samsara has a large total addressable market with a robust customer base, Bullock wrote. “We are on the precipice of a multi-year adoption cycle for AI-enabled dash cam and software solutions,” he added. Bullock went on to say that while the stock is not cheap, investors should begin to accumulate shares now. “Pay the premium – the ride is well worth the fare,” he quipped. Samsara shares are up 25% over the past 12 months. Viking Sailing away with the luxury cruise market and superior returns. … .No casinos, no kids but a singular brand and clear niche. … VIK operates a unique, high-end business model that generates daily net per diems of over $500 — higher than every cruise line, other all-inclusive resorts, and publicly-traded hotel companies.” T-Mobile “Long growth runway ahead. … .Strengthened confidence in TMUS growth. … .We exited the meeting confident in TMUS’s ability to execute against its current plan and to continue identifying new growth segments within a mature market. … .Fiber strategy is about generating returns, plain & simple.” Nvidia “While NVDA’s hardware dominance is well-known, its ability to help customers rapidly scale-up and deploy revenue generating services is often less appreciated. We believe recurring software services could open the next leg of growth, while strengthening its direct relationship over enterprise users.” Apple “2024 Apple Services deep dive: AI to be an incremental lever for growth. We present an update to our Services deep dive. Based on our bottom-up revenue buildout, we expect Services rev to drive the company’s overall margin higher. We view low double-digit growth as sustainable in F24-26.” Samsara “Initiating on category leader, disruptor, and AI winner . … .With AI-enabled dash cams and software for real-time driver coaching, enterprises reduce total accidents by ~29%. … . We are on the precipice of a multi-year adoption cycle for AI-enabled dash cam and software solutions. … Pay the premium – the ride is well worth the fare.”
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