These are Wall Street's favorite S&P 500 picks for the second half

Published Wed, Jun 19 20248:32 AM EDT

The second half of the year is around the corner, and some stocks are primed to outperform, according to a screen of Wall Street analysts' favorite picks. The S & P 500 has rallied more than 15% in 2024, reaching record levels as investors pile into artificial intelligence-related stocks such as Nvidia. Many of the top investment firms expect the gains to continue, with Goldman Sachs raising its year-end S & P 500 price target to 5,600. Evercore ISI and Citi also increased their year-end forecast on the broad market index. With this in mind, CNBC Pro screened for names in the S & P 500 that are forecast to outperform through the rest of the year. The following names have 20% or more upside to their analyst price targets and are already in the green for 2024 — indicating their price targets are elevated not just due to a drop in share price. To note, the price targets are 12-month estimates. Take a look at where analysts see the stocks headed. CNBC Pro readers can also search for more stocks through the CNBC Pro Stock Screener Tool here. Warren Buffet's Berkshire Hathaway made the list. The Class B stock is projected to rise 20.8% over the next 12 months and is up around 13% year to date. Out of the four analysts covering the stock, three rate it a buy or a strong buy. Argus upgraded the conglomerate's shares to buy from hold in May, citing its cheap valuation and strong financial strength. Disney is another Wall Street favorite going into the second half of the year. According to the stock's consensus price target, shares could rally nearly 25% in the next 12 months. Demand trends for Disney's parks segment remains "healthy," Guggenheim said earlier in June when it reiterated its buy rating on shares. Around three-quarters of analysts covering the stock have a strong buy or buy rating. Shares are up 12.% in 2024. DIS YTD mountain Disney shares in 2024 Several energy stocks also made the cut. While the energy sector is still positive for the year, it has underperformed the broader market. While Coterra Energy is up less than 5% in 2024, analysts believe shares could rally 26.5%. UBS recently named it as one of its favorite energy and utilities picks. Two-thirds of analysts covering Coterra hold a strong buy or buy rating on the stock. Oil giant Chevron is another energy name expected to outperform heading into the second half of the year. The stock is currently trading at a forward P/E ratio below its 5-year average , indicating potential growth ahead. Chevron is in a fight with Exxon Mobil over lucrative offshore oil assets in Guyana. The company also acquired Hess for $53 billion earlier in 2024. Year to date, Chevron shares are up just 2.8%.