Investing

My 3 Top Picks for Stocks That Could Double Over the Next 3 Years

Chris MacDonald

Published: February 10, 2025 10:14 am

Finding stocks with the potential to double in just three years is no easy feat, even in this bull market. Plenty of companies have accomplished this feat in the recent past, and I’m going to discuss three top names here. However, past performance is no guarantee of future success. All investors know that. Plenty of things will need to go right in order for the party to continue, so to speak.

While these three companies certainly have robust growth drivers which have propelled their recent performance, investors will need to grapple with potential downside pressures to the U.S. and global economies which could continue to provide headwinds to stock price growth. We don’t know if global growth will continue to be as robust as it has in the past, given still-high inflation seen in the U.S in particular. And while many central banks are cutting rates, the Federal Reserve appears to be on hold, at least for now. Thus, these are companies that will need to rely on their fundamentals to see significant appreciation from here.

The thing is, these are all companies I think have both the momentum and fundamental standing to see a double-up over the next three years. Let’s dive into why these are three of my top stock picks right now.

Key Points About This Article:

• Past performance is no guarantee of future success, but these three growth stocks have clearly been among the biggest winners in the market in recent years.
• Here’s why that momentum may continue over the course of the next three years, assuming the soft landing narrative is still in play.
• If you’re looking for some stocks with huge potential, make sure to grab a free copy of our brand-new “The Next NVIDIA” report. It features a software stock we’re confident has 10X potential.

Nvidia (NVDA)

It should be no surprise to anyone that Nvidia (NASDAQ:NVDA) comes first on this list of stocks with double-up potential over the next three years. Considering that this is exactly what Nvidia does on a relatively frequent basis, few investors will doubt that this company can continue to grow at breakneck speed. Considering the company’s rate of revenue and earnings growth, its current forward price-earnings multiple of just 30-times looks very reasonable, considering the company has been able to grow its earnings at or near a triple-digit pace for years now.

With the continued rollout of the company’s Blackwell GPUs and its leadership in AI and data center technologies, those betting on the future of the U.S. and global economy continue to pile into Nvidia. This is a stock that’s continuing to see strong capital inflows tied to these trends, and until these trends show signs of slowing, there’s reason to believe this momentum can continue.

Analysts forecast Nvidia’s revenue to reach approximately $111.3 billion in 2025, up from $26.97 billion in 2023, driven by a staggering 409% increase in data center revenue in 2023 alone. With a price-earnings ratio that’s come down despite sky-high share price growth (driven by accelerating top and bottom line numbers), Nvidia is the growth stock that keeps on giving, at least in terms of its results. 

For those who believe the AI market will continue to grow at breakneck pace, this is a no-brainer pick right now. Caution may be warranted given how far and fast Nvidia has risen if we do see recessionary headwinds form. But for now, this is a top growth stock I think needs to be on every investor’s radar.

Meta Platforms (META)

Meta Platforms (NASDAQ:META) is among the leading social media conglomerates that’s shown significant growth in recent years, driven by a pivot in how many companies choose to advertise. Simply put, social media platforms like Facebook, Instagram and others owned by Meta have slurped up advertising dollars at an incredible pace, and that’s a trend that many see continuing for a long time to come.

In terms of time share spent online for most consumers, social media platforms continue to take the cake as a top form of entertainment (and where many Americans get the vast majority of their news). This reality has led to incredible revenue growth in recent years and propelled a number of analysts to project that META stock could double by 2028.

So, it’s not an outlandish thing to say this is a stock with double-up potential over the next three years. And considering this stock’s recent momentum, having risen for 15 consecutive trading sessions in a row, this feat could certainly materialize sooner than the three year window I’ve subjectively chosen. That is, if the company’s strategic investments in the metaverse and advancements in AI technologies pan out.

Eli Lilly (LLY)

Big pharma giant Eli Lilly (NYSE:LLY) is another company that’s projected to experience substantial growth, with analysts forecasting its stock price could double by 2028. This is a big pharma giant that actually has big growth catalysts, with the rise of GLP-1 drugs contributing a great deal to Eli Lilly’s growth story. 

The days of pharmaceutical giants being viewed as companies that not only benefit from a sicker population, but ones that may actually help the public get healthier as a whole, may have appeared to be long gone. However, the shift in investor sentiment around this sector, and the potential transformative nature of GLP-1 drugs as a category on its own, has propelled LLY stock higher. This is a key factor I think should get more attention from investors over time, as more of the population jumps on the GLP-1 bandwagon.

Analysts at Goldman Sachs project that the increasing adoption of these drugs could lead to a long-term surge in revenue, with estimates suggesting a potential stock price increase of 140% by 2028 due to rising demand for these therapies.

I’m of the view that Eli Lilly will continue to remain a “show me” story, at least for now. And it’s worth pointing out that this stock is one that’s rallied very hard in recent years. But if this growth can continue, and investors continue to view Eli Lilly as a top-tier big pharma name, this is a stock that certainly has double-up potential over the next three years in my view.