RBC Capital Markets on Monday highlighted its top stock ideas for 2025, including an energy giant and a key financial company. The bank listed its top 30 stock picks for the new year. RBC said it sifts through companies with solid bottom-up fundamentals that can also capitalize on the current environment. Since its inception, the Top 30 has delivered a total compound annual return of 13.7% versus its benchmark MSCI World Index’s return of 11.2%, according to RBC. However, the basket underperformed for both the fourth quarter and full year in 2024, respectively returning negative 1% and 18.6% versus its benchmark’s negative 0.2% and 18.7%. The S & P 500 also beat RBC’s top picks in the fourth quarter, rising 2.1%. Last year, the best-performing stocks on the list included HubSpot , CrowdStrike and HealthEquity , which respectively gained 31%, 22% and 17%. As 2025 kicks off, RBC’s updated list includes several additions, including ConocoPhillips and MSCI . Energy stock ConocoPhillips, which slumped nearly 15% last year, replaced Canadian Natural Resources in RBC’s Top 30 list. Analyst Scott Hanold’s $135 price target implies that the stock could surge nearly 34% from here. “The depth, quality, and diversity of COP’s global inventory sets it apart from E & P peers, and its strong balance sheet and low WTI breakeven point position it to fund its maintenance capital and dividend and increase shareholder value through commodity price cycles,” RBC wrote. A less compelling setup for Canada’s energy sector in 2025 contributed to Canadian Natural Resources’ removal from the bank’s top stocks list, the bank said. Within financials, MSCI replaced Intercontinental Exchange on RBC’s list. Analyst Ashish Sabadra’s $675 price target implies a potential upside of 12% for the stock. “We think MSCI is well positioned to deliver high-single-digit revenue growth and 50+ bps margin expansion in 2025 with the benefit of improving Financial Services budgets, normalizing sales cycles, and normalizing pricing,” the bank said. Shares of MSCI ended 2024 6% higher. Pinterest was one returning member of RBC’s best ideas list. The social media platform slipped 22% last year, but is already up 13% in 2025. While the stock trades at a premium versus its peers, analyst Brad Erickson said this was justified given the company’s fast-growing margins. Erickson’s $48 price target is approximately 55% above where shares of Pinterest closed on Friday. “Our price target is attributable to confidence in: the 3p ad partnership ramping more quickly than expected; higher ad load not negatively impacting engagement; and direct links and better relevance driving ROAS higher,” he wrote. Other members of RBC’s top stock ideas for 2025 include clean energy player First Solar and software platform Gitlab .