Why These 10 Stocks are Soaring by Double Digits

1. Garrett Motion Inc. (NASDAQ:GTX)

Garrett Motion soared to a fresh record high on Thursday, as investors took heart from an impressive earnings performance for the third quarter of the year, alongside a higher growth outlook and a dividend increase.

In intra-day trading, the stock soared to its highest price of $15.75 before trimming gains to end the day just up by 19.34 percent at $14.93 apiece.

In a statement, Garrett Motion Inc. (NASDAQ:GTX) said it was able to grow its net income by 48 percent to $77 million from $52 million in the same period last year, on the back of a $20 million jump in gross profit, $8 million lower interest cost, and a $2 million increase in non-operating income.

Net sales, on the other hand, rose by 9.2 percent to $902 million from $826 million year-on-year, primarily driven by higher demand in gasoline and diesel, a favorable currency impact, and recoveries on enacted import tariffs.

Encouraged by the results, Garrett Motion Inc. (NASDAQ:GTX) raised its full-year net income projection to a range of $265 million to $295 million, versus the $233 million to $278 million expected previously.

It also raised the lower-end of its net sales projection to now expect a record of $3.5 billion to $3.6 billion, versus the $3.4 billion to $3.6 billion previously.

In other developments, Garrett Motion Inc. (NASDAQ:GTX) announced a $0.02 increase in dividends to $0.08 to each holder of common shares as of December 1, payable on December 15, 2025.

While we acknowledge the potential of GTX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GTX and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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