These 3 stocks are predicted for growth by top Wall Street analysts.

Last week, a higher-than-anticipated consumer inflation reading scared off investors. However, investors may want to adopt a long-term perspective as they look for investment opportunities.

Top Wall Street analysts are highlighting their top picks for long-term growth prospects.

According to TipRanks, which ranks analysts based on their past performance, the Street's top pros favor these three stocks.

Amazon

Several analysts have reaffirmed their bullish views on Amazon ahead of the company's quarterly results.

James Lee, a Mizuho analyst, maintained a buy rating on AMZN stock with a price target of $230. He is increasingly optimistic that Amazon's cloud computing unit, AWS, will see revenue growth accelerate in 2024. Despite this, AMZN remains his firm's top pick.

The analyst observed that AWS customers are increasingly seeking executive business center meetings, indicating a potential acceleration in the sales cycle, based on Mizuho's recently completed quarterly AWS customer survey with a leading channel partner.

The survey showed that AWS clients are ending their on-premise data center contracts at a faster rate than previously predicted, indicating an accelerated migration of workloads to the cloud.

According to Lee, the channel partner who conducted the survey predicted a 20% YoY growth in AWS spending, which is consistent with our forecast and above the consensus of 15%.

Among more than 8,700 analysts tracked by TipRanks, Lee ranks No. 428. His ratings have been successful 59% of the time, with each delivering an average return of 11.5%. (See Amazon Stock Buybacks on TipRanks)

Acushnet Holdings

Golf products maker GOLF reported a 4.9% year-over-year growth in net sales of $2.4 billion in 2023, driven by increased sales volumes of golf balls, clubs, and golf gear under the Titleist brand.

Ivan Feinseth, a Tigress Financial analyst, maintained a buy rating on GOLF stock and raised the price target from $68 to $74. Feinseth predicts that the company's business will improve due to the entry of new players, an increase in rounds played, and product launches across its leading brands in the industry.

The golf industry has experienced a steady growth in the number of new golfers and total rounds played over the past six years, with the trend expected to continue.

Feinseth stated that Golf's strong brand equity, resulting from its top-notch and leading product lines, such as FootJoy and Titleist, are significant assets and the main factors contributing to its premium market valuation.

Acushnet continues to enhance shareholder returns through dividend increases and share buybacks. The company recently raised its quarterly dividend by 10.3% and authorized an additional $300 million in share repurchases.

Acushnet Holdings Hedge Fund Trading Activity on TipRanks shows that Feinseth holds the 243rd position among more than 8,700 analysts tracked by TipRanks. His ratings have been profitable 61% of the time, with each delivering an average return of 12.4%.

BJ's Wholesale Club

BJ, a membership-only warehouse club chain, has been upgraded to a buy from hold by Goldman Sachs analyst Kate McShane, who also increased the price target to $87 from $81. The analyst predicts that increased market share and improving industry trends will lead to strong revenue growth.

In fiscal 2023, the grocery category accounted for 86% of BJ's merchandise sales, and McShane anticipates a better revenue outlook due to the return of volume growth in the grocery business and increased customer engagement in the general merchandise category.

The analyst predicts that the general merchandise category will benefit from the company's plan to revamp its inventory by introducing new brands, upgrading product quality, enhancing display and promotional strategies.

BJ is expected to benefit from a potential increase in membership fees, as the company has a membership base of over 7 million accounts and a renewal rate of 90% in fiscal 2023.

McShane stated that BJ is an alluring club model with a captivating value proposition and a sustainable growth potential that will likely increase market share in the long run.

Among more than 8,700 analysts tracked by TipRanks, McShane ranks No. 959. Her ratings have been profitable 62% of the time, with each delivering an average return of 5.1%. (See BJ's Ownership Structure on TipRanks)