Discover the only Warren Buffett stock that Wall Street thinks will surge more than 70% in 2024

Warren Buffett has never had a high opinion of Wall Street analysts. he even said Berkshire Hathaway (BRK.A 0.41%) (BRK.B 0.11%) In 2003, shareholders said the only time he read analyst reports was “because he couldn’t find interesting papers.”

I don’t think the Oracle of Omaha could care much about how analysts predict the stocks in Berkshire’s portfolio will perform going forward. But if they’re right about one of the conglomerate’s shares, he could be in for some good news. Discover the only Buffett stock that Wall Street expects to soar more than 70% in 2024.

High expectations for Liberty Live Group

The average analyst price target for 12 months is Liberty Live Group Series A (LLYV.A 0.58%) The stock is priced at $56. This target reflects an upside potential of 72%.

Among the stocks owned by Berkshire Hathaway, this is the most optimistic outlook on Wall Street. The only Buffett stocks that come close to these high expectations are: Liberty Live Group Series C (LLYV.K 0.98%). The 12-month target price for Liberty Live’s non-voting Series C shares is approximately 68% higher than the current price.

Liberty Live Group is owned by Liberty Media. Two stocks that are likely to rise over the next 12 months are tracking stocks of interest to Liberty Media. live nation entertainmentThe world’s leading live entertainment company.

However, one caveat should be pointed out about Liberty Live’s impressive price target. It reflects the views of just one analyst. Seaport Global really likes Liberty Live’s prospects, but the only analysts surveyed by Seaport Global are: LSEG It deals with stocks.

Buffett stock with a few asterisks

As a word of caution, Liberty Live Group can only be considered a Buffett stock if you allow for some flexibility in defining the term. I’d argue it’s a Buffett stock, but it’s a stock with a few asterisks.

First, Berkshire did not actually purchase Liberty Live Group (Series A or Series C shares). The conglomerate acquired shares of both tracking stocks through another Liberty Media stock stake split in the third quarter of 2023.

Second, it is highly unlikely that Buffett would have requested an investment in the Liberty Media position. The investments are believed to be managed by Ted Weschler, along with Todd Combs, one of Berkshire’s two investment managers besides Buffett.

Still, there’s good reason why many people call every stock in Berkshire Hathaway’s portfolio a Buffett stock. Even though he was not personally involved in the stock purchase decision, he owns the stock like any other stock in Berkshire’s portfolio by owning a 15.6% economic stake in the giant holding company.

Is Liberty Live Group the best Buffett stock to buy?

Will Liberty Live Group stock actually surge more than 70% in 2024? I do not know. Still, that’s what I believe. Not like that These are the best Buffett stocks for long-term investors to buy.

I don’t have a big hit on Liberty Live Group itself. Instead, I simply think there are better stocks in Berkshire’s portfolio over the next decade and beyond. Three things in particular come to mind.

Here is my view bank of america (BAC 0.98%) At current value, it’s a bargain. The company continues to be one of the leading innovators in the financial services industry. Pays attractive dividends. And it’s the second-largest holding in Berkshire’s portfolio.

I like it too MasterCard (mom -0.24%). The payment processing giant is poised to benefit from a number of tailwinds, including the continued shift from cash to digital payments, the growth of e-commerce, and the expansion of the middle class in emerging markets.

In the end I think Amazon (AMZN 0.37%) It remains one of the most powerful companies in the world. There is great potential for growth due to the artificial intelligence (AI) boom. The company’s e-commerce business will continue to grow. Amazon is also branching out into new businesses that offer growth opportunities.

I appreciate Seaport Global’s optimism about Liberty Live Group. But in my opinion, Bank of America, Mastercard, Amazon, and some other stocks seem like better Buffett stocks to buy.