After the S&P 500 posted one of its best years in decades in 2019, many market strategists are predicting only modest upside for stocks this year.
Some individual stocks may still be big winners, however. Bank of America compiled a list of more than 40 buy-rated stocks from its analysts to serve as the bank's top picks for 2020.
Here are a few picks that have double-digit upside, according to a note Bank of America sent to clients.
The fast food giant is in the early stages of a turnaround, Bank of America said, and its history of dividend increases makes it an attractive investment for total return. Bank of America's price target for McDonald's is $230, a 13.7% upside from where shares closed Tuesday.
The streaming video company should continue to grow international subscriptions and has the potential to raise prices over the next decade, Bank of America said. The bank's price target for Netflix is $426, 25.8% above where shares closed Tuesday.