Want to Get Richer? 3 High-Flying Stocks to Buy Now
These three very different stocks have contrasting investment propositions, but what they share is a significant amount of upside potential over the next decade. They have also all outperformed the S 500 so far in 2023. Stanley Black Decker (NYSE: SWK) is the value option of the three, while GE Healthcare Technologies (NASDAQ: GEHC) is the option for growth at a reasonable price, and Hexcel (NYSE: HXL) is the growth investor's choice. Here's why.
It's been a difficult couple of years for the maker of tools and industrial products. The company started 2022 expecting full-year adjusted EPS in the range of $12 to $12.50, only to end up at $4.62.
Soaring raw material/supply chain costs and declining demand for its tools and outdoor products hit the company hard. There's little the company can do about rising rates hurting the housing market and, consequently, demand for DIY tools. In addition, the housing-related market decline was due to a correction after lockdowns and stay-at-home measures pulled forward demand in previous years. Not only did the lockdowns distort the market, but they also encouraged Stanley to delay making supply chain restructuring necessary to reduce underlying costs.
Source Fool.com
