Where can investors look for increase?
With bankers around the world turning back financial growth estimates for 2019 and ahead, it may become frequently challenging for investors to find steady growth assets to buy. Even between rising fears of a trade war intensification and a global financial slowdown, growth stocks have continued to exceed value stocks over the past month. Investors have seen the same trend throughout the entirety of the decade-long bull market. Bank of America recently updated its Growth 10 list of top growth stocks to long term investors to buy.
Here are the firm’s top growth asset picks.
Amazon.com (ticker: AMZN)
Amazon reports dramatic growth amounts and more often than not its stock generates market-beating returns. It turns out 2019 is no exception. Amazon shares are up 24% year to date and analyst Justin Post says the e-commerce and cloud services giant keeps picking all the best machines. Post says Amazon recently made the right move by eating the higher costs of free one-day Prime freight to significantly boost transportation capacity. He is projecting 27% earnings per share growth over the next five years. Bank of America has a “buy” grade and $2,350 price target for AMZN stock.
D.R. Horton (DHI)
D.R. Horton is the most comprehensive public homebuilder in the U.S. Analyst John Lovallo II says the organization’s center on the entry-level housing market and its outstanding administrative team make it one of the best ways to achieve a strong U.S. home market. Lovallo says the acquisition of Forestar gives D.R. Horton compliance, diversification and an chance to improve overall cash flow and repeat on equity. Bank of America is projecting 13% five year EPS growth. The firm has a “buy” rating and $55 price target for DHI stock
Facebook has dealt with a seemingly never-ending stream of contention and critique, from the Cambridge Analytica data shame and its position in voting rudeness to the platform’s chilling utility as a tool to encourage violence and genocide in Myanmar. However, through all of the drama, Facebook’s business and its stock has remained on track. Post says the Facebook growth powerhouse is poised to produce even more upside in the years ahead. Bank of America has a “buy” rating and $240 price target for FB stock.
Noble Energy (NBL)
There hasn’t been much growth in the oil and gas business for ages, but analyst Doug Leggate has great optimism for Noble Energy in the ages to come. Leggate says Noble is quickly advancing a cash flow inflection point thanks to its flagship Leviathan project, which is finally supposed to come online ere the end of 2019. Bank of America is projecting 45% EPS growth from Noble over the next five years, a higher earnings growth rate than any other stock on this list. The firm has a “buy” rating and $41 price target for NBL stock.
A few more of the best growth stocks to buy in a slowing economy: