Recent months have been volatile for stocks. Sharply rising Treasury yields and expectations of a recession have been bad news for stocks, with the S & P 500 and Nasdaq Composite both falling into correction territory in late October. Higher-for-longer interest rates are especially bad for growth stocks. However, investor hopes were revived after the U.S. Federal Reserve kept rates unchanged for the second consecutive meeting. Yields inched back down and investors are hoping the Fed's rate-hiking campaign may be over. Stocks bounced back last week, with major averages capping their best week so far this year. Overall, the S & P 500 and Nasdaq Composite are still up around 15% and 29% in the year to date. In a Nov. 1 note, Citi said it upgraded U.S. equities to a tactical overweight rating. "This is in line with the bullish forecasts of our US equity strategists. The overweight should benefit from more stable US rates, improving earnings growth, low positioning, and strong year-end seasonals," it said. However, it added that its call is only tactical because Citi predicts a U.S. recession in the second half of 2024. The Russell 1000 Growth Index has pulled back from its highs this year, which may present an opportunity for investors. It's still up around 28% this year, however. For those keen on getting back into the growth corner of the market, CNBC Pro screened for stocks in the iShares Russell 1000 Growth ETF that have further upside. They fulfill these criteria: Market cap of at least $2 billion Buy ratings from at least half the analysts covering the stock Upside of at least 30%, based on average price target A minimum of nine analysts covering the stock The following stocks appeared as part of the screen. Investors might find it unexpected that this stock showed up in the screen: Nvidia . Despite its huge gains this year, it was given more upside by analysts — potentially 45.5% based on the average price target, according to FactSet. The stock has already rocketed over 200% this year on the artificial intelligence buzz. Other stocks that made the list include cloud companies Okta and Snowflake , with over 30% potential upside each. Fintech-related stocks such as PayPal and Block also showed up, as did many health-care and pharmaceutical stocks. — CNBC's Michael Bloom contributed to this report.
