As September approaches, Oppenheimer has put forward some of their most promising concepts.

As stocks approach their peak levels, Oppenheimer is focusing on a selection of companies that could maintain their upward trajectory into September. Wall Street experienced an eight-day rally in mid-August, recovering from a significant sell-off earlier in the month. By Monday’s close, the S&P 500 was just 1.1% shy of its record high set in mid-July. In this context, Oppenheimer has identified 32 top stocks for the end of summer and the beginning of fall, all of which have received buy ratings from their analysts.

One notable inclusion is Broadcom, a chipmaker whose shares have surged 50% in 2024 up to Monday. Analyst Rick Schafer highlights Broadcom’s strong position in the high-end filter market and its stable business segment that doesn’t depend on mobile applications for growth. Oppenheimer has set a price target of $200 per share for Broadcom, suggesting a potential 19% increase from its Monday closing price of $167.71. Schafer praised Broadcom’s strategic and financially appealing business model, noting its significant earnings per share (EPS) and free cash flow growth, partly due to its successful history of mergers and acquisitions.

DraftKings, a sports betting platform, also received a recommendation from Oppenheimer. Despite a 2% decline in shares this year, analyst Jed Kelly believes the company is well-positioned to attract new customers who currently gamble illegally or outside the U.S. Kelly emphasized that DraftKings’ expertise in product development and customer acquisition, which helped it dominate the daily fantasy sports market, will be crucial in shifting U.S. sports betting from illegal or offshore wagering to licensed domestic operators. Oppenheimer’s price target for DraftKings is $55 per share, indicating a potential 60% increase.

Additionally, Goldman Sachs has seen its shares rise by about 31% in 2024. Analyst Chris Kotowski pointed out that the investment bank’s efforts to boost return on tangible equity, driven by a new management team, could be a significant growth catalyst. Kotowski believes that Goldman Sachs has a strong franchise and multiple strategies for revenue, cost, and capital optimization, yet the market still undervalues the stock. Oppenheimer’s price target for Goldman Sachs is $548 per share, suggesting nearly 9% upside potential.