The year 2024 was quite an eventful year for the US stock market: the S&P 500 index rose by more than 20% for the second year in a row.
Several factors, including increased inflation and interest rates, geopolitical tensions, the US presidential election and the boom in generative artificial intelligence (AI), influenced investor sentiment.
Against this backdrop, many analysts made market-beating recommendations. Using TipRanks' Experts Center tool, we identified the top ten US analysts with a high success rate.
TipRanks helps identify top analysts by ranking them based on success rate, average return, and number of recommendations. The rankings reflect analysts' ability to outperform their competitors with their expertise and stock selection.
Now let's take a look at the top 10 US analysts whose ratings were given over a one-year period from October 2023 to September 2024 and who were the most successful.
#1. Gerard Cassidy– RBC Capital
RBC Capital analyst Gerard Cassidy tops the list with an impressive 88% success rate (based on 91 good reviews out of 103 total recommendations) and an average return of 11.5%. Interestingly, his most profitable rating was On Fifth Third Bancorp (FITB), a financial services company offering banking, insurance and wealth management solutions. His Buy rating on FITB stock from October 19, 2023 to January 19, 2024 yielded a return of 38.6%.
#2.Chris Kotowski– Oppenheimer
Chris Kotowski of Oppenheimer took second place. Analyst ratings resulted in an average return of 14%, with a success rate of 88%, based on 84 good reviews out of 95 total recommendations. His most notable rating during the rating period was on Carlyle Group (CG), an investment firm operating in the private equity, credit and investment solutions segments. Kotowski's Buy rating on CG stock during the period from August 6, 2024 to November 6, 2024 generated a return of 38.8%.
#3.Ebrahim Poonawala– Securities of Bank of America
Ebrahim Poonawala of Bank of America secures third place with an overall success rate of 82% and an average return of 10.2%. His best recommendation was Western Alliance Bancorporation (WHALE), a bank holding company that provides banking solutions through its principal subsidiary, Western Alliance Bank. The analyst's Buy rating on WAL stock generated a return of 55.1% during the period from October 20, 2023 to January 20, 2024.
#4.Mark Palmer– Benchmark Co.
Benchmark analyst Mark Palmer ranks fourth on the list with a 75% success rate and an average return of 23.3%. Palmer's top recommendation is Bitdeer Technologies Group (BTDR), a technology company working on blockchain and high-performance computing. The analyst achieved an impressive 212.4% gain from his Buy rating on BTDR stock from September 25, 2024 to December 25, 2024.
#5.Mark Mahaney– Evercore ISI
Evercore's Mark Mahaney takes fifth place on the list. The analyst has an overall success rate of 80% and an average return per review of 14%. The analyst's best recommendation during the review period occurred on the social media platform Metaplatforms (META). Mahaney's Buy rating on META stock delivered a return of 27.5% between July 29, 2024 and October 29, 2024.
#6.Brent Thielman– DADavidson
Brent Thielman of DA Davidson is number six on the list. He achieved a success rate of 79% and an average return of 13.3%. Notably, Thielman's most profitable rating during the observed one-year period was a “Buy on.” Bowman Consulting Group (BWMN), a consulting firm providing a range of real estate, energy, infrastructure and environmental management solutions. His bullish assessment of BWMN stock resulted in a return of 24.4% from November 8, 2023 to February 8, 2024.
#7.Christopher Allen– City
Citi analyst Christopher Allen ranks seventh. For the one-year period ending September 2024, Allen achieved an average return of 13.8% with a success rate of 85%. His best recommendation was Apollo Global Management (APO), an investment management company specializing in alternative investments. Allen earned an impressive 64.8% return from Buy rating on APO stock from September 11, 2024 to December 11, 2024.
#8.Daniel Fannon– Jefferies
Jefferies analyst Daniel Fannon is eighth on the list. Fannon recorded an 85% success rate and an average return of 11.1%. Fannon's highest rating went to alternative asset management firm Blackstone Group (BX). His Buy rating on the stock between August 13, 2024 and November 13, 2024 yielded a return of 36.8%.
#9.Mike Mayo– Wells Fargo
Mike Mayo of Wells Fargo ranks ninth on the list. It has an 80% success rate and an average return of 8.2%. Mayo's most profitable recommendation was on Fifth Third Bancorp (FITB). His recommendation for FITB stock generated a return of 38.6% during the period from October 19, 2023 to January 19, 2024.
#10.Michael Grondahl– Northland Securities
Finally, Michael Grondahl, analyst at Northland Securities, ranks tenth with an overall success rate of 70% and an average return of 23.4%. His most profitable rating was a buy-on Stryve Foods (SNAX), an air-dried meat snack company. Grondahl made a massive 305.10% return on its Buy rating on SNAX stock during the period from May 15, 2024 to August 15, 2024.
Final Thoughts
Despite macroeconomic challenges and geopolitical tensions, these top analysts delivered attractive returns on their stock picks. By following ratings from top analysts, investors can potentially increase their portfolio returns and benefit from the expertise of Wall Street professionals.