2024 has seen some massive stock rallies, as investor interest in themes such as AI has shown little sign of waning. As the year-end nears, CNBC Pro asked three fund managers what global stocks they are buying in the lead-up to 2025, as they attempt to get ahead of the curve. Here are five of their top picks:
Novo Nordisk
The Danish pharmaceutical company -- behind the famed Ozempic and Wegovy weight loss drugs -- is already popular with investors, with shares up almost 14% this year after rising over 50% in 2023. The firm remains a top pick for Michele Schneider, chief market strategist at Marketgauge.com.
"The diet drugs have changed the foods we eat, the ways we celebrate, exercise, travel, and dress, and talk about health and beauty," she explained. "I have been on this theme since 2023, and now have it as one of my major investment themes for 2025."
Shares in the pharma giant are listed on Denmark's Nasdaq Copenhagen and trade as an American Depositary Receipt (ADR) in the U.S. under ticker NVO. According to FactSet data, of 32 analysts covering the stock, 21 give it a buy or overweight rating, seven have a hold rating and four have a sell or underweight rating. Their average price target is 988.93 Danish krone ($140.10), giving the stock around 25% potential upside.
Rivian Automotive
Elsewhere in the hotly watched electric vehicle space, Schneider is betting on Rivian Automotive. The company made headlines recently following its $5.8-billion joint venture with automaker Volkswagen.
"Still," Schneider noted "the wider EV sector will be impacted by tariffs and the removal of tax credits given to EV purchasers by U.S. President-elect Donald Trump."
Shares in Rivian are down 44.6% since the start of the year. Analysts are divided on the stock; less than half give it a buy or overweight rating with an average price target for Rivian at $14.74 according to FactSet data—giving it potential upside of 13.4%.
Midea Group
Wealth manager Tariq Dennison is bullish on Chinese home appliance maker Midea Group.
"Midea remains my largest A-share position largely because I see them as one of China's more globally successful brands," said Dennison.
Midea made headlines after raising $4 billion in its Hong Kong listing in an enlarged deal; since then its shares listed also on Shenzhen Stock Exchange rose over twenty percent—all thirty analysts covering this recommend buying or maintaining current positions according to FactSet data indicating significant upward movement possibility at HKD97 .89 ($12 .60).
Nestle
Dennison also bets heavily upon Nestle—the name behind brands like Smarties Häagen-Dazs Maggi calling it “a wonderful business.”
"I follow mostly because I'm interested how operates across countries very few others manage doing so successfully" he added further explaining share values traded fairly priced post decline exceeding forty percent during past three years partially due strong Swiss franc market perception non-growth nature thereof."
Kinh Bac City Development
Thea Jamison managing director portfolio manager Change Global favors Kinh Bac City Development describing Vietnamese developer high-tech industrial parks leading player ample landbank develop IT industrial parks next decade clients include tech giant Samsung Electronics contract electronics manufacturer Foxconn expecting list expand trend toward increased foreign investments Vietnam however navigating complex legal regulatory aspects poses challenges emerging markets face executing projects quickly efficiently despite all six analysts recommending purchase position based upon estimates offering substantial growth prospects future endeavors factset indicates approximately thirty percent rise potential given current valuation levels relative expectations surrounding anticipated performance moving forward positively influencing overall sentiment regarding outlook associated therein contributing significantly towards achieving desired outcomes ultimately benefiting stakeholders involved 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