If you’re a big believer in Warren Buffett’s slow-and-steady approach to the capital market, you’re not going to find much value in these stocks to buy tomorrow. Frankly, this list centers almost exclusively on hubris; that is, the audacity to assume how the market will respond on any given day.
Even for the speculators interested in hot stock picks, we’ve got to lay down some groundwork. Anything can happen in the equities sector and I claim no crystal ball. Some of these ideas may do well. They might all perform well. At the same time, they could all fail. Again, we’re just spit-balling here.
Now, this caveat doesn’t mean I’m going to throw a bunch of random ideas out there without a care in the world. Based on various fundamental and technical factors, these ideas for top stocks to buy immediately may deliver. I hope they deliver. However, I want to emphasize again: I offer no guarantees. If you’re okay with that, below are the best stocks to purchase now (allegedly).
ConocoPhillips (COP)
As a hydrocarbon energy giant, some folks might be writing off ConocoPhillips (NYSE:COP). I believe that would be a mistake. COP could reasonably make a case for stocks to buy tomorrow. Certainly, plenty of eyes would be on the industry stalwart. According to Kiplinger, this Thursday, ConocoPhillips will release its latest earnings report. Analysts project that the company will deliver earnings per share of $1.93.
To be fair, it’s a tough narrative. In the first quarter of 2023, ConocoPhillips posted revenue of $14.81 billion, down almost 17% against the year-ago level. However, social normalization trends may bode well for increased consumption of oil products. Also, vehicle miles traveled – a data point provided by the U.S. Federal Highway Administration – shows a generally rising trend over the past year.
Therefore, sales could have improved. If so, this dynamic should lift the company’s earnings. And that might mean it’s one of the hot stock picks. Finally, TipRanks’ technical analysis readout for the training month, both oscillators and moving averages point to an overall bullish assessment. If you’re the gambling type, COP makes a case for top stocks to buy immediately.
Starwood Property Trust (STWD)
A leading diversified finance company, Starwood Property Trust (NYSE:STWD) features a core focus on the real estate and infrastructure sectors. Per data from Kiplinger, Starwood will release its earnings results on Thursday. Analysts expect the enterprise to generate an EPS of 48 cents. While it’s difficult to guess earnings winners and losers, STWD could be one of the stocks to buy tomorrow.
Fundamentally, Starwood focuses considerable attention on the hotels and lodging space. That’s significant because the revenge travel phenomenon – basically pandemic-fueled pent-up demand for social experiences – represented a powerful tailwind this year. Still, some signs of this catalyst fading have become apparent. Hopefully, though, broader optimism will be strong, enabling traders to scalp a quick profit in STWD.
Adding to the speculation that STWD may be one of the best stocks to purchase now is the technical profile. Based on TipRanks’ technical analysis indicator, STWD’s trailing-month metrics for oscillators and moving averages point overall to an optimistic framework. If you needed more confirmation, Wall Street analysts also peg STWD as a consensus strong buy.
Cinemark (CNK)
While arguably the riskiest idea for stocks to buy tomorrow, Cinemark (NYSE:CNK) for me represents the most exciting prospect. Over the past several months, I’ve maintained across various media platforms that the box office offers the most bang for your entertainment buck. For less than the average hourly wage, you can buy a ticket to an evening showing of your desired film.
Also on Thursday, Cinemark will release its latest earnings report. Per Kiplinger, covering analysts anticipate the cineplex operator will post EPS of 51 cents. To be fair, the box office suffered harshly because of the Covid-19 crisis. For example, Cinemark’s three-year revenue growth rate (per-share basis) sits at 9.6% below zero.
However, the company has been slowly but surely making up lost ground. In Q1 2023, Cinemark posted revenue of $611 million, up almost 33% against the year-ago level. With exciting releases during Q2 along with strong anticipation for the second half of the year, CNK seems a lock for hot stock picks.
Over the trailing month, TipRanks technical analysis indicator points to an overall positive (albeit somewhat contested) framework. I’ll bet that CNK makes good as one of the top stocks to buy immediately.
On the date of publication, Josh Enomoto 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.
