Capital Markets’ top 30 global ideas for the fourth quarter

Capital Markets updated its global list of stock ideas for the fourth quarter of the year.

These are 30 high-conviction, long-term ideas with quarterly updates “that enable dynamic changes into names where we see higher-conviction upside potential,” according to Capital Markets analysts.

Over the third quarter, this list delivered a total return of 7%, outperforming the MSCI World Index (NASDAQ:ACWI) at 4.3%. The best performing stocks were Brambles (OTCPK:BMBLF) up 41.5%, Marks and Spencer Group (OTCQX:MAKSF) up 32%, and PayPal Holdings (PYPL) up 30.6%.

Also, since its inception in 2019, the list has delivered a total return of 91.7%, above the ACWI (ACWI) at 70%.

Here is the updated list, all outperform-rated:

• Alimentation Couche-Tard Inc. (OTCPK:ANCTF) – Implied all-in return: 26.7%
• American International Group Inc. (AIG) – Implied all-in return: 21%
• Anheuser-Busch InBev SA/NV (BUD) – Implied all-in return: 28%
• Bank of America Corp. (BAC) – Implied all-in return: 18.4%
• Boston Scientific Corp. (BSX) – Implied all-in return: 1.4%
• Brambles Limited (OTCPK:BMBLF) – Implied all-in return: 4.3%
• Cameco Corp. (CCO) – Implied all-in return: 16.4%
• Canadian Natural Resources (CNQ) – Implied all-in return: 36.1%
• Constellation Software Inc. (OTCPK:CNSWF) – Implied all-in return: 6.9%
• CrowdStrike Holdings Inc. (CRWD) – Implied all-in return: 19.4%
• Ferrari NV (RACE) – Implied all-in return: 11.4%
• First Solar Inc. (FSLR) – Implied all-in return: 26.3%
• Gaming and Leisure Properties Inc. (GLPI) – Implied all-in return: 16.7%
• GFL Environmental Inc. (GFL) – Implied all-in return: 20.5%
• HealthEquity Inc. (HQY) – Implied all-in return: 22.2%
• HEICO Corp. (HEI) – Implied all-in return: 4.1%
• HubSpot Inc. (HUBS) – Implied all-in return: 31.7%
• Illumina Inc. (ILMN) – Implied all-in return: 93.2%
• Intercontinental Exchange Inc. (ICE) – Implied all-in return: 25.6%
• London Stock Exchange Group (OTCPK:LDNXF) – Implied all-in return: 8.8%
• PayPal Holdings Inc. (PYPL) – Implied all-in return: 7.7%
• PG&E Corp. (PCG) – Implied all-in return: 21.6%
• Pinterest Inc. (PINS) – Implied all-in return: 48.3%
• Sarepta Therapeutics Inc. (SRPT) – Implied all-in return: 44.9%
• Shell Plc (SHEL) – Implied all-in return: 44.4%
• Siemens Aktiengesellschaft (OTCPK:SIEGY) – Implied all-in return: 10.3%
• TELUS Corp. (TU) – Implied all-in return: 16.5%
• Veeva Systems Inc. (VEEV) – Implied all-in return: 19.1%
• Xylem Inc. (XYL) – Implied all-in return: 21.6%
• Zalando SE (OTCPK:ZLDSF) – Implied all-in return: 42.2%