W - 3 Cheap Stocks That Shouldn't Be Cheap for Long | Benzinga
Earnings growth typically drives stock prices. Three stocks are set to grow at double and even triple-digit rates this year, yet their prices stay at more than 30% discounts from their 52-week highs. Whether underrated or just forgotten, they are cheap stocks that shouldn't be so.
The names to keep in mind for your ‘growth at a discount' watchlist can include Hecla Mining (NYSE: HL), Wayfair Inc. (NYSE: W), and even Mobileye Global Inc. (NASDAQ: MBLY). Combining tailwinds in the global economy on top of above-average earnings per share (EPS) growth can allow investors to grow their portfolios by double digits in this new cycle.
Professional traders use a process called ‘top-down' analysis to understand the macro developments at play. By understanding what is about to happen in the economy, investors can better decide where their money could see better returns.
Get Ready for a Money Shift
Analysts at The Goldman Sachs Group Inc. (NYSE: GS) gave Main Street an insight into their 2024 strategy. In their macro outlook report, it is clear that the investment bank expects to see a breakout in the manufacturing sector of the U.S. economy.
Their expectations became evident after the ISM manufacturing PMI index reported a 6.4% jump in new export orders, the highest expansionary reading for the month of February. This means that demand for precious metals, home furnishings, and even original equipment manufacturers (OEM) could go higher.
Of course, Goldman is betting ...