Investing titans Ken Fisher and Steve Cohen have built billion-dollar fortunes by identifying undervalued stocks before they became high flyers. Though they employ different strategies, both market veterans share an interest in two compelling stocks primed for growth in 2024: American Tower and Las Vegas Sands.
This insightful 1324-word article will analyze why these stocks are hot buys right now, offering actionable investing advice directly from two of the world’s savviest investors. Read on to discover why you should consider adding American Tower and Las Vegas Sands to your portfolio in the new year.
Table of Contents
- Ken Fisher and Steve Cohen’s Investing Strategies
- Why American Tower is a Hot Stock Pick for 2024
- Las Vegas Sands Poised for Post-Pandemic Rebound
- Expert Analysts Bullish on American Tower and Las Vegas Sands
- Key Takeaways and Investing Advice for 2024
With 2023 almost behind us, investors are searching for profitable places to park their money in the new year. Volatility has ruled the markets lately, making it tough to know where to turn.
That’s why it pays to see where legendary investors like Ken Fisher and Steve Cohen are directing their dollars right now. Though their investing styles differ, both billionaires share convictions on two timely stocks: American Tower Corporation and Las Vegas Sands.
This informative guide will analyze why these stocks are hot buys now, offering actionable tips directly from two investing icons who’ve beaten the markets for decades. Read on to learn why American Tower and Las Vegas Sands deserve your attention, and how you can capitalize on their growth potential in the months ahead.
Ken Fisher and Steve Cohen’s Investing Strategies
Ken Fisher and Steve Cohen rose to investing fame thanks to strategies that exploit market inefficiencies for profit. Here’s a quick look at how they built fortunes from stocks:
Ken Fisher’s Approach
Fisher believes in making investment decisions based on hidden or underappreciated data. By analyzing information the market overlooks, he gains unique insights into a company’s growth potential.
For example, Fisher might discover strong sales for a new product that aren’t yet reflected in a stock’s price. This contrarian approach has powered Fisher to build a $7.1 billion net worth.
Steve Cohen’s Strategy
Cohen embraces aggressive, high-risk investing with enormous potential payoffs. He searches for good companies that temporary problems have made undervalued. Cohen then snaps up their shares before the market corrects the underpricing.
This tactic demands deep research and strong nerves. But it has worked brilliantly for Cohen, with his net worth now standing at $19.8 billion.
Though their styles differ, Fisher and Cohen currently agree on two timely stock picks.
Why American Tower is a Hot Stock Pick for 2024
Ken Fisher and Steve Cohen are making big bets on American Tower Corporation (AMT), one of the world’s largest real estate investment trusts. American Tower operates over 220,000 communication towers worldwide, leasing antenna space to wireless carriers.
Here are reasons this infrastructure REIT looks compelling for 2024:
- Essential Role in Growing 5G Networks: As carriers like Verizon and AT&T build out 5G networks, they must lease thousands of new tower sites. American Tower is uniquely positioned to profit from 5G’s expansion.
- Steady, Recurring Revenue Streams: American Tower’s tenants sign long-term leases, providing reliable revenue even during economic downturns. In Q2 2022, revenue grew 3.7% year-over-year.
- Strong Growth Prospects: American Tower expects to average ≥5% annual domestic organic revenue growth from 2023–2027 — exceeding industry peers. This outlook suggests robust gains ahead.
- Recession Resilience: Wireless connectivity is increasingly indispensable. This makes American Tower’s tower assets recession-proof — consumers will keep paying for data even during downturns.
- High Dividend Yield: AMT pays shareholders a strong 4% dividend yield. This steady income stream adds appeal during volatile markets.
Bullish on American Tower’s outlook, Cohen owns $136 million of its shares while Fisher holds a $195 million position. Growth drivers like 5G make AMT a hot pick for 2024.
Las Vegas Sands Poised for Post-Pandemic Rebound
Las Vegas Sands (LVS) also grabs the attention of Ken Fisher and Steve Cohen as tourism rebounds from COVID-19. The luxury resort and casino operator is ideally positioned to capture pent-up travel demand.
Here’s why investors are betting on big things from Las Vegas Sands:
- World-Class Properties: Las Vegas Sands operates renowned integrated resorts like Marina Bay Sands in Singapore and The Venetian Macau. These premier properties draw affluent travelers.
- Early Mover in Asia: The company holds a first-mover advantage in Asia’s booming casino gaming market. Macau and Singapore delivered over $1 billion in Q2 2022 EBITDA.
- Healthy Post-COVID Prospects: In Q2 2022, visitation to Macau reached 68% of pre-pandemic levels, showing a steady recovery underway. Visits should fully rebound as COVID recedes further.
- Enormous Long-Term Potential: Macau’s gaming market could eventually exceed Las Vegas by 10X. LVS has an entrenched position in this high-growth region.
Betting on LVS’s comeback, Cohen owns a $108 million stake. Fisher’s position is even larger at $427 million. The time looks right to profit from LVS.
Expert Analysts Bullish on American Tower and Las Vegas Sands
Industry analysts also endorse American Tower and Las Vegas Sands as strong stocks for 2024. Let’s examine what two top experts say about these companies:
Brett Feldman, Goldman Sachs (On American Tower):
“We remain constructive on AMT, as we expect that it will have the highest domestic organic growth rate of any US tower operator over the next five years (5.6% vs. ~4% for peers), which should drive peer-leading AFFO/share growth (~7.5% CAGR vs. 3% to 6% for peers).”
Carlo Santarelli, Deutsche Bank (On Las Vegas Sands):
“We see considerable value in LVS shares at current levels and we believe some of the concern around the trajectory of the recovery in Macau is misguided, with too much being read into short term and somewhat inconsequential datapoints.”
Top analysts agree American Tower and Las Vegas Sands offer strong upside potential, validating the investments from Ken Fisher and Steve Cohen.
Key Takeaways and Investing Advice for 2024
Ken Fisher and Steve Cohen seem to have uncovered two compelling opportunities in American Tower and Las Vegas Sands. Here are key investing takeaways for 2024:
- American Tower should thrive from 5G’s expansion and steady demand for wireless data connectivity. It offers recession resilience and dividend income too.
- Las Vegas Sands is primed for gains as travel activity rebounds in the post-COVID era. Its Asia casinos have massive long-term potential.
- With bullish experts and billionaires on board, these stocks look like savvy buys for 2024. Consider buying shares before broader markets recognize their potential.
Of course, conduct your own due diligence as well. But the upside possibilities look exciting with American Tower and Las Vegas Sands. Position yourself for gains in 2024 by following the smart money from Ken Fisher and Steve Cohen.
Q: What are the tickers for American Tower and Las Vegas Sands?
A: American Tower trades under AMT on the NYSE. Las Vegas Sands trades under LVS on the NYSE.
Q: Are these stocks buys at current prices?
A: Industry analysts sees strong upside ahead for both. American Tower has an average price target of $228, implying 43% upside. Las Vegas Sands has a $68.61 average target, suggesting 53% upside.
Q: When does American Tower pay dividends?
A: American Tower pays a quarterly dividend, with payments typically made in February, May, August, and November. The next dividend payment is expected in November 2023.
Q: What is the outlook for Las Vegas Sands’ Macau properties?
A: Visitation to Macau is rebounding from COVID lows and expected to fully recover over the next 12–24 months as travel normalizes. Macau gaming has enormous long-term growth potential.
Q: Are these stocks recommended for beginning investors?
A: These are suitable long-term investments for investors with a moderate to high risk tolerance. Less experienced investors may prefer funds with broader diversification.