Wall Street Analysts Predict Soaring Gains for Four High-Yield Dividend Stocks by 2024

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ICARO Media Group
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06/01/2024 16h16

In a recent report, Wall Street analysts have identified four high-yield dividend stocks that they believe will deliver substantial gains in the coming years. These stocks, based in both North America and across the Atlantic, have already caught the attention of income investors due to their attractive dividend yields. However, analysts now anticipate that these stocks will not only provide juicy dividends but also experience significant growth.

First on the list is Sasol Ltd, a global specialty chemicals and energy company headquartered in Johannesburg, South Africa. Despite its recent stock performance downturn, experiencing a 40% plunge over the last 12 months, Sasol offers a tempting dividend yield of over 9.2%. The lone analyst covering the stock predicts a strong rebound, setting a 12-month price target nearly double the current share price.

Next up is Vodafone Group, a prominent telecommunications provider in Europe and Africa. Despite facing challenges and a 13% share price decline over the past year, Vodafone boasts an impressive dividend yield of 10.9%. All three analysts surveyed rate the stock as a buy or a strong buy, with a consensus 12-month price target more than 61% above the current share price.

Crescent Point Energy, a Canadian oil producer based in Calgary, Alberta, comes in third. Known for its variable dividend, which returns roughly 60% of excess cash flow to shareholders, Crescent Point currently yields 4.3%. The stock has shown modest gains of 5% over the past year, but one analyst sees potential with a 12-month price target reflecting a 59% upside.

Lastly, Icahn Enterprises LP, the Florida-based holding company founded by Carl Icahn, operates in various industries such as automotive, energy, investments, and real estate. Despite a 65% drop in stock price over the last 12 months, Icahn Enterprises offers an eye-catching dividend yield of 22.3%. While the lone analyst acknowledges the challenges, they see a potential 45% jump in the stock price if the company can climb as projected.

While these four stocks already present attractive dividend yields, the anticipated growth predicted by Wall Street analysts further strengthens their investment potential. Investors should weigh these findings along with their own research to make informed decisions for the new year.

Please note that the information provided is based solely on the opinions of Wall Street analysts and investors are encouraged to conduct their own due diligence and consult with financial advisors.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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