The Nasdaq Composite has been on fire so far in 2023. The tech-heavy index has soared nearly 29% this year and is currently on pace for its best first half since 1983. That year, the Nasdaq rallied 37.1% in the first half and finished 1983 up nearly 20%. Excitement around artificial intelligence propelled the benchmark after a tough 2022. Shares of Apple, Google parent Alphabet, Meta Platforms and Nvidia have soared in 2023. Other winners include Ambrx Biopharma and Cipher Mining , with gains of more than 600% and 412%, respectively. Against this backdrop, CNBC Pro screened the Nasdaq Composite to find which stocks can help the index keep its momentum going, abiding by the following criteria: Average analyst price targets imply at least 30% upside. At least 65% of analysts maintain buy ratings. Market capitalization of $5 billion or more. At least five analysts cover the stock. Texas-based oil and natural gas firm Diamondback Energy made the list. The stock is down about 6% this year. However, 76.7% of the 27 analysts polled that cover it rate the stock as a buy. Their average price target implies about 34% upside compared with current levels. FANG YTD mountain Diamondback Energy stock has slipped more than 6% from January. Latin American online marketplace MercadoLibre also made the cut. The stock has gained more than 38% year to date. Nearly 73% of analysts that cover MercadoLibre rate the stock as a buy, with their average price target implying about 38% upside to current levels, FactSet data shows. MELI YTD mountain Shares have soared more than 38% so far this year. Mobileye Global , a company that helps develop technology, software and cameras for autonomous driving, is also expected to drive the Nasdaq going forward. Three-quarters of analysts covering the stock rate it a buy, and the average price target indicates 30% upside over the next 12 months. Earlier this month, Canaccord Genuity initiated the stock with a buy rating, noting: “We believe autonomous vehicles (AVs) are set to increase resource utilization, improve productivity, save lives, and much more.” MBLY YTD mountain Mobileye stock has added roughly 4% since January. Sarepta Therapeutics also made the cut. While the stock has slipped more than 17% this year, the company recently received approval from the U.S. Food and Drug Administration for a gene therapy for Duchenne muscular dystrophy in boys ages 4 to 5. Of the 14 analysts covering the stock, 71% rate it a buy, while the average analyst price target implies upside of nearly 64%. SRPT YTD mountain Sarepta stock has slipped more than 17% so far in 2023.
