The post 2 Growth stocks with ‘strong buy’ ratings for July 2024  appeared on BitcoinEthereumNews.com.

Growth stocks are companies experiencing rapid growth in their share prices, revenue, profits, or cash flow, outpacing the broader market. Investors target growth stocks for substantial price appreciation rather than dividend income. As of 2024, the S&P 500 index has gained 16.8%, marking a new all-time high and confirming a bull market. This momentum is bolstered by falling inflation, potential interest rate cuts, and robust corporate earnings.  Given this favorable backdrop, Finbold has analyzed the current market conditions and growth outlooks to identify top growth stocks for July 2024.  American Superconductor Corporation (NASDAQ: AMSC) stock American Superconductor Corporation (NASDAQ: AMSC), currently trading at $27.28, has a market cap of $1.009 billion and operates prominently in the clean energy sector, specifically within wind energy and grid solutions.  In 2024, the company’s share price surged over 132%, reflecting strong market confidence. AMSC’s Windtec Solutions aids manufacturers in launching wind turbines profitably, while Gridtec Solutions offers advanced grid systems enhancing network reliability, efficiency, and performance.  The company’s innovations in superconductor technologies, power electronics, and grid solutions serve various sectors globally, including utilities, renewable energy developers, and industrial customers. AMSC shares rallied 9.4% on July 9 to $28.06, driven by notable volume with a higher number of shares being traded than in a typical session.  Over the past four weeks, the stock has gained 20.1%, fueled by strong momentum across its Grid business and the solid adoption of its new energy power system.  AMSC’s valuation metrics highlight its investment potential, with a Price-to-Sales (P/S) ratio of 6.93, a Price-to-Book (P/B) ratio of 6.98, and an Enterprise Value (EV) of $998.89 million.  Given the fundamentals, AMSC is considered a reasonable buy given its long-term prospects amid the global shift towards renewable energy. Wall Street’s ASMC stock 12-month price target. Source: TipRanks The average price target…

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Filed under: News - @ July 10, 2024 11:16 am