"We think investor focus has already shifted to '25 where we are rolling out numbers across our coverage and assuming a robust positive inflection for most end markets," a group of analysts led by Tom O'Malley wrote in an investor note. "Even factoring in a strong growth year in '25, there isn't a ton of low-hanging fruit at these levels. With this said, we are picking our spots into next year and prefer names levered to the '2nd Wave of AI.'"