(C) Reuters. 3 Stocks Up More Than 100% Year to Date, Still Rated ‘Strong Buy’
While the resurgence of COVID-19 cases and the Evergrande crisis could fuel stock market volatility in the near term, the major market indexes have for now recovered following the Fed’s reiteration this week that it will support economic recovery. So, we think it could be wise to scoop up the shares of fundamentally sound stocks ZIM Integrated Shipping Services (ZIM), Teradata (TDC), and Dillard’s (NYSE:DDS). These stocks have doubled in price so far this year and still have plenty of upside to deliver. Read on.
The stock market has been volatile lately due to investors’ concerns surrounding the continuing increase in COVID-19 cases and a potential debt default by China’s troubled property giant Evergrande Group. However, the major stock market indexes rallied yesterday after the Federal Reserve pledged to keep its bond-buying program and ultralow interest-rate policy in place for now to support the economy. In addition, Evergrande is expected to pay interest payments on an onshore bond.
According to the Labor Department, the consumer price index (CPI) in August increased 5.3% from a year earlier and 0.3% from July, which was lower than expected, signaling that inflation may be starting to cool. Furthermore, the economy has seen a substantial decline in the unemployment rate recently.
Against this backdrop, we think it could be wise to bet on quality stocks ZIM Integrated Shipping Services Ltd. (ZIM), Teradata Corporation (NYSE:TDC), and Dillard’s, Inc. (DDS). These stocks are rated Strong Buy in our proprietary POWR Ratings system. They have gained more than 100% in price this year and still have plenty of upside to deliver.
3 Stocks Up More Than 100% Year to Date, Still Rated ‘Strong Buy’
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