Investors can still find names with plenty of upside potential, even as stocks leap to fresh highs, according to Bank of America. The firm named a slew of companies this week that analysts say have room to run. CNBC Pro combed through Bank of America research to find buy-rated stocks that are poised to outperform. They include CrowdStrike, Emerson Electric, Progressive, Rollins and O'Reilly Automotive. Emerson Electric "Better portfolio, good visibility = more investor interest," analyst Andrew Obin said after a series of investor meetings with the company. "The message on an improved growth and returns profile is particularly compelling in our view," he wrote. Emerson has deep pipeline of products to rely on, according to the analyst, who noted the company isn't seeing any effects of a deteriorating macro. Further, Emerson is well positioned for upside and synergies following the completion of its acquisition of National Instruments last fall, according to the firm. Obin also raised his price target to $130 per share from $120, and it's now tied for a Street high. "Emerson remains one of our top sector picks," he said. Shares of the company are up 13% in 2024. Rollins "This stock is the bees knees and still a Buy," analyst Jason Haas said of the pest control provider. Rollins is well positioned for "recession resiliency" among many other positive catalysts in the months ahead, he noted. "Pest control is one of the last things homeowners and business owners will cut back on in downturns," Haas wrote. The analyst praised company management, noting its focus on expanding margins. Additionally, Haas likes Rollins' diversified business across three areas: commercial, termite and residential. Meanwhile, shares of the company are up just 4% this year, but they are highly undervalued, according to the firm. Haas also thinks that the pest control company can outperform even in an economic crisis. "A high-growth compounder through economic cycles," he said. Progressive More growth is on the horizon for the auto insurer, according to analyst Joshua Shanker. Progressive recently held its quarterly earnings call, and Shanker came away feeling even more bullish about the buying opportunity. The firm said the stock looks underappreciated, and it's likely flying under investors' radar. "Progressive may arguably be the least volatile stock in the S & P 500 that can deliver outsized stock performance," he said. Shares are up nearly 25% this year, but they are too attractive to ignore, according to the firm. "While some argue that Progressive shares seem expensive, the stock is trading in-line with its historical range on both absolute and relative-to-market multiples," Shanker wrote. In addition, the analyst raised his price target to $261 per share from $256, which is a Street high. "With plenty of upside potential, healthy business momentum and a lower risk profile than the broad market as well as peer stocks, we reiterate our Buy recommendation," Shanker said. CrowdStrike "We remain positive on CrowdStrike's long-term growth opportunity and market leadership across endpoint security. We reiterate our Buy, increase our estimates, and raise our PO to $400 from $365, based on 19x FY26E EV/Sales vs 17x previously to reflect CrowdStrike's strong growth runway over the next 12 months." O'Reilly Automotive "We reiterate our Buy rating and $1,250 PO based on 30x '24 P/E as we continue to view ORLY as a best-in-class operator within the auto aftermarket which has historically been more resilient to macro factors than the broader Consumer Discretionary sector. Within this defensive yet growing category, ORLY has a long track record of both stronger growth and stronger margins than its auto parts retail peers." Progressive PGR may arguably be the least volatile stocks in the S & P 500 that can deliver outsized stock performance. … While some argue that PGR shares seem expensive, the stock is trading in-line with its historical range on both absolute and relative-to-market multiples. … With plenty of upside potential, healthy business momentum & a lower risk profile than the broad market as well as peer stocks, we reiterate our Buy recommendation." Emerson Electric "Better portfolio, good visibility = more investor interest. … The message on an improved growth and returns profile is particularly compelling. … Emerson remains one of our top sector picks. … We see potential upside as the company executes on National Instruments synergies. The transition to a pure-play industrial automation firm should also lead to higher valuation multiples over time, in our view." Rollins "This stock is the bees knees and still a Buy. … A high-growth compounder through economic cycles. … Buy today for recession-resiliency, margin expansion plan. … Pest control is one of the last things homeowners and business owners will cut back on in downturns. … We see limited risk to Rollins' growth trajectory-from a soft housing market, recession, competition, or weather-and therefore believe the stock deserves a premium multiple."

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