Growth stocks have dropped of late, and many that aren’t in the Big Tech group look like decent bets at this point.
Some growth names now look highly attractive, especially if yields stop rising. That would help valuations—stocks’ multiples of expected profits for the next year—stabilize. If they do, higher profits over time would bring these stocks upward.That’s why Citi strategists screened for growth stocks that have become the most attractive during the recent pullback.
With cash-flow estimates up for the next year, and the stock down, Lam Research shares are much less expensive now. The stock trades at 22 times forward free cash flow, down from a peak this year of about 35 times. At the higher multiple, it was about 50% more expensive than the S&P 500’s free-cash-flow multiple, but now it only trades at a 5% premium.
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Citi recommends a bunch of growth stocks to buy on this pullbackThe Russell 1000 Growth Index has climbed down from its year-to-date highs, which Citi believes has set up a 'buy growth on a pullback' opportunity.
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Goldman expects 'healthy' growth at these 3 Indian banking stocks – giving one nearly 50% upsideThe investment bank's bullish stance is also mirrored by its outlook on India's economy.
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