These 7 growth stocks — including Amazon — should rally even in a flattish market

Investing


Getty Images

Workers pack and ship customer orders at the 750,000-square-foot Amazon fulfillment center in Romeoville, Illinois.

With the S&P 500 not likely to do much the rest of the year, Goldman Sachs says there is still an investment strategy that can outperform.

The firm recommended companies with strong prospects for sales growth next year. David Kostin, Goldman’s chief U.S. equity strategist, updated his “high revenue growth” stock basket, which is now based on 2019 Wall Street estimates.

He wrote in a note to clients Friday that with the rate of GDP growth expected to slow next year, “We continue to recommend investors own stocks with the highest forecast sales growth.”

The basket includes several internet and technology stocks such as Amazon, Netflix and Autodesk.

Kostin reiterated his year-end price target of 2,850 for the S&P 500, representing just 4.5 percent upside from Friday’s close.

He noted the previous version of the “high revenue growth” basket, which was based on 2018 estimates, outperformed the S&P 500 by 8 percentage points over the past 12 months.

Here are seven stocks in the Goldman Sachs “high revenue growth” stock basket with estimated 2019 sales growth of more than 20 percent recommended by Kostin.



Source link

Products You May Like

Articles You May Like

Mark Zuckerberg’s meeting with EU officials to be livestreamed
SkinnyMint, BodyBoss founder Emily Hamilton driven by father’s success
David Tepper gets US approval to take activist stance on Allergan
Apple, Exxon, Chevron and GE all have this one thing in common
China says opening up of financial sector will need reciprocity

Leave a Reply

Your email address will not be published. Required fields are marked *