![Wealth manager for the super rich names 3 global stocks to buy](https://news7g.com/wp-content/uploads/2024/06/107423363-17174288312024-06-03t152943z_1321423327_rc2p38a69miy_rtrmadp_0_usa-stocks-780x470.jpeg)
Following the explosion of interest in chipmaker Nvidia – with shares recording a whopping 200% gain over the past 12 months – investors appear to be divided on whether to buy the stock or not. One asset manager, however, is happy not to own the chipmaker. “I bought Nvidia in the early days and exited my position with a nice 300% gain. Of course, the stock has now increased further to over $1,000, but I’m happy to have secured a profit at a price I’m happy with.” with,” Dhruba Jyoti Sengupta told CNBC Pro earlier this month. CEO of Wrise Private Middle East, which serves ultra-high net worth and high net worth individuals across Asia, Middle East and Europe, said he instead likes three different stocks around the world. Adobe Topping Sengupta’s list is Adobe. After a difficult period earlier this year, the stock is gaining traction The new focus follows second-quarter earnings that beat analysts’ expectations. Shares of Adobe jumped 17% after announcing results last week and are up about 7% over the past 12 months software has promise thanks to the potential of synthetic AI not only for text but also photos in the medium to long term. He added: “The market doesn’t see much potential in Adobe because Nvidia is offering all that This is a big prediction for the future, and the market loves it. But Adobe offers a great opportunity to become the biggest software company in photography.” According to FactSet data, of the 43 analysts covering the stock, 34 have a buy or overweight rating, seven have a Hold rating while two have a sell recommendation. Their average price target is $611.20, which offers 16.3% upside potential. Harley-Davidson In the luxury goods sector, Sengupta has his eye on Harley Davidson. “Living in Dubai, I have a firm belief that no matter what happens, luxury stocks will always perform well in the long run… Men today are becoming more like women in terms of luxury spending, especially into toys like Harley Davidson,” he said. Shares of the iconic motorcycle maker have fallen nearly 6% in the past 12 months, but Sengupta said the stock is undervalued so it’s a good time to buy. Of the 17 analysts covering Harley-Davidson, eight have a buy or overweight rating, while nine have a hold rating of $42.96, according to FactSet data. This gives it 32.1% upside potential. HDFC Bank In India, the asset manager is betting on financial firm HDFC, as the country – and the bank itself – gears up for growth. “Banks have extremely diverse income sources, I think [it’s] most valuable bank in the world today,” he said. When asked how HDFC compares with rivals like ICICI Bank, Sengupta replied that HDFC’s management is “very stable with strong leadership consistent leadership and that puts them in good stead.” National Stock Exchange of India and BSE, as well as ADR in the US, its shares are also included in the Nifty India Financials ETF (weighting 15, 6%) and iShares India 50 ETF (11.2%). 1% over the past 12 months, but showing signs of upside. Of the 43 analysts tracking HDFC Bank on FactSet, 38 have buy ratings or overweight on the stock at an average target price of 1,872.32 Indian rupees ($22.41 USD).