Analysts Еxpect Strong Growth in These Stocks

Raymond James is betting on several stocks for significant gains in 2026, with its list of analyst recommendations featuring companies that are not among the usual AI giants.

In a note to clients dated December 8, the financial institution highlighted 18 stocks with growth potential over the coming year. The list includes popular delivery platform DoorDash and fast-food chain Shake Shack, as well as companies from the home goods, utilities, financial services, and commodities sectors.

Analysts emphasize that valuations for equal-weight, small-cap, and mid-cap stocks are relatively attractive and close to “normal” levels compared with the past 25 years, while valuations for the S&P 500 remain above the index’s long-term average. According to Tavis McCourt, institutional equity strategist at Raymond James, many large-cap companies are heavily dependent on AI-related spending, but 2026 could be a year when a broader range of stocks outperforms AI-focused names, supported by economic stimulus and growing skepticism about large-scale AI investments.

The list of top stock picks for 2026 was compiled with input from Raymond James’ leading analysts. Each selection received a “strong buy” rating over a 12-month horizon, and the recommendations were reviewed by a three-member committee, taking into account fundamentals, growth prospects, and potential risks.

Their most compelling picks

DoorDash
Analysts expect DoorDash to deliver substantial growth potential in 2026. The company plans to invest hundreds of millions of dollars in new initiatives and platform development, aiming to expand its services and strengthen competitiveness. The acquisition of UK-based Deliveroo in October further reinforces DoorDash’s market position.

Raymond James notes that near-term investments may pressure margins, but the company is expected to overcome these effects over the longer term. The stock carries a “strong buy” rating with a $325 price target and is already up nearly 40% in 2025.

Shake Shack
The fast-food chain is seen as offering a “very attractive” valuation following its recent correction, making it appealing to investors. According to analyst Brian Vaccaro, the company has the potential for accelerated earnings growth and margin expansion, with the current share price well below the $150 target. Shares are down roughly 34% year to date, presenting a potential buying opportunity.

Intercontinental Exchange (ICE)
The global exchange and data services company is expected to benefit from several key drivers in 2026, including growth in energy futures trading and further business diversification. ICE also operates a “capital-light” model that supports faster growth. The stock is rated “strong buy” with a $210 price target and has gained about 9% so far this year.

These companies highlight opportunities beyond traditional AI stocks, with Raymond James underscoring their potential for solid growth and attractive valuations in the year ahead.