Growth Stocks Present Buying Opportunity as Index Pulls Back
Overview
The Russell 1000 Growth Index, which has experienced significant gains in 2023, has recently seen a pullback, creating a potential opportunity to buy growth stocks at a lower price. According to Citi strategist Scott Chronert, the index has declined more than 6% since reaching its peak on July 19, with many individual stocks experiencing even larger drops. This suggests that there may be hidden pressure on individual stocks despite the overall index performance.
Criteria for Selecting Growth Stocks
Citi has screened for growth stocks that meet specific criteria for consideration on a pullback. These criteria include a buy rating from the firm, at least 75% of market cap assigned to growth-style per Russell, a decline of 10% or more from year-to-date highs (after March 31), consensus free cash flow per share estimates above March 31 levels, and FY5 free cash flow per share greater than or equal to market-implied estimates.
Selected Stocks and Analyst Projections
The following stocks have met the criteria and are worth considering:
- Lockheed Martin: The defense and aerospace company has seen an 18% decline from its 2023 high in April. However, its free cash flow per share consensus estimate has increased since March. Despite facing supplier issues and reducing its full-year delivery forecast for F-35 jets, analysts still see potential for this stock.
- Pinterest: Despite a modest rally following its recent investor day, Pinterest shares remain down 14% from their year-to-date highs. However, the company’s management is forecasting revenue expansion this year, and the full-year free cash flow per share estimate has improved since the first quarter.
- Nvidia: This chipmaker has had an impressive year, with a surge of over 188%. However, the stock is now down 18% from its peak in late August. Despite concerns of overvaluation, analysts believe there is still room for growth, with an average price target suggesting a potential 47.7% rally from the current price.
- KLA: Dutch-based KLA has experienced a 14% decline from its 2023 peak but remains more than 20% higher for the year. Analysts see potential for this stock as well.
It’s important to note that these projections are based on current information and market conditions, and they may change over time. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
Growth Stocks Present Buying Opportunity as Index Pulls Back
Overview
The Russell 1000 Growth Index, which has experienced significant gains in 2023, has recently seen a pullback, creating a potential opportunity to buy growth stocks at a lower price. According to Citi strategist Scott Chronert, the index has declined more than 6% since reaching its peak on July 19, with many individual stocks experiencing even larger drops. This suggests that there may be hidden pressure on individual stocks despite the overall index performance.
Criteria for Selecting Growth Stocks
Citi has screened for growth stocks that meet specific criteria for consideration on a pullback. These criteria include a buy rating from the firm, at least 75% of market cap assigned to growth-style per Russell, a decline of 10% or more from year-to-date highs (after March 31), consensus free cash flow per share estimates above March 31 levels, and FY5 free cash flow per share greater than or equal to market-implied estimates.
Selected Stocks and Analyst Projections
The following stocks have met the criteria and are worth considering:
- Lockheed Martin: The defense and aerospace company has seen an 18% decline from its 2023 high in April. However, its free cash flow per share consensus estimate has increased since March. Despite facing supplier issues and reducing its full-year delivery forecast for F-35 jets, analysts still see potential for this stock.
- Pinterest: Despite a modest rally following its recent investor day, Pinterest shares remain down 14% from their year-to-date highs. However, the company’s management is forecasting revenue expansion this year, and the full-year free cash flow per share estimate has improved since the first quarter.
- Nvidia: This chipmaker has had an impressive year, with a surge of over 188%. However, the stock is now down 18% from its peak in late August. Despite concerns of overvaluation, analysts believe there is still room for growth, with an average price target suggesting a potential 47.7% rally from the current price.
- KLA: Dutch-based KLA has experienced a 14% decline from its 2023 peak but remains more than 20% higher for the year. Analysts see potential for this stock as well.
It’s important to note that these projections are based on current information and market conditions, and they may change over time. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
Growth Stocks Present Buying Opportunity as Index Pulls Back
Overview
The Russell 1000 Growth Index, which has experienced significant gains in 2023, has recently seen a pullback, creating a potential opportunity to buy growth stocks at a lower price. According to Citi strategist Scott Chronert, the index has declined more than 6% since reaching its peak on July 19, with many individual stocks experiencing even larger drops. This suggests that there may be hidden pressure on individual stocks despite the overall index performance.
Criteria for Selecting Growth Stocks
Citi has screened for growth stocks that meet specific criteria for consideration on a pullback. These criteria include a buy rating from the firm, at least 75% of market cap assigned to growth-style per Russell, a decline of 10% or more from year-to-date highs (after March 31), consensus free cash flow per share estimates above March 31 levels, and FY5 free cash flow per share greater than or equal to market-implied estimates.
Selected Stocks and Analyst Projections
The following stocks have met the criteria and are worth considering:
- Lockheed Martin: The defense and aerospace company has seen an 18% decline from its 2023 high in April. However, its free cash flow per share consensus estimate has increased since March. Despite facing supplier issues and reducing its full-year delivery forecast for F-35 jets, analysts still see potential for this stock.
- Pinterest: Despite a modest rally following its recent investor day, Pinterest shares remain down 14% from their year-to-date highs. However, the company’s management is forecasting revenue expansion this year, and the full-year free cash flow per share estimate has improved since the first quarter.
- Nvidia: This chipmaker has had an impressive year, with a surge of over 188%. However, the stock is now down 18% from its peak in late August. Despite concerns of overvaluation, analysts believe there is still room for growth, with an average price target suggesting a potential 47.7% rally from the current price.
- KLA: Dutch-based KLA has experienced a 14% decline from its 2023 peak but remains more than 20% higher for the year. Analysts see potential for this stock as well.
It’s important to note that these projections are based on current information and market conditions, and they may change over time. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
Growth Stocks Present Buying Opportunity as Index Pulls Back
Overview
The Russell 1000 Growth Index, which has experienced significant gains in 2023, has recently seen a pullback, creating a potential opportunity to buy growth stocks at a lower price. According to Citi strategist Scott Chronert, the index has declined more than 6% since reaching its peak on July 19, with many individual stocks experiencing even larger drops. This suggests that there may be hidden pressure on individual stocks despite the overall index performance.
Criteria for Selecting Growth Stocks
Citi has screened for growth stocks that meet specific criteria for consideration on a pullback. These criteria include a buy rating from the firm, at least 75% of market cap assigned to growth-style per Russell, a decline of 10% or more from year-to-date highs (after March 31), consensus free cash flow per share estimates above March 31 levels, and FY5 free cash flow per share greater than or equal to market-implied estimates.
Selected Stocks and Analyst Projections
The following stocks have met the criteria and are worth considering:
- Lockheed Martin: The defense and aerospace company has seen an 18% decline from its 2023 high in April. However, its free cash flow per share consensus estimate has increased since March. Despite facing supplier issues and reducing its full-year delivery forecast for F-35 jets, analysts still see potential for this stock.
- Pinterest: Despite a modest rally following its recent investor day, Pinterest shares remain down 14% from their year-to-date highs. However, the company’s management is forecasting revenue expansion this year, and the full-year free cash flow per share estimate has improved since the first quarter.
- Nvidia: This chipmaker has had an impressive year, with a surge of over 188%. However, the stock is now down 18% from its peak in late August. Despite concerns of overvaluation, analysts believe there is still room for growth, with an average price target suggesting a potential 47.7% rally from the current price.
- KLA: Dutch-based KLA has experienced a 14% decline from its 2023 peak but remains more than 20% higher for the year. Analysts see potential for this stock as well.
It’s important to note that these projections are based on current information and market conditions, and they may change over time. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
Growth Stocks Present Buying Opportunity as Index Pulls Back
Overview
The Russell 1000 Growth Index, which has experienced significant gains in 2023, has recently seen a pullback, creating a potential opportunity to buy growth stocks at a lower price. According to Citi strategist Scott Chronert, the index has declined more than 6% since reaching its peak on July 19, with many individual stocks experiencing even larger drops. This suggests that there may be hidden pressure on individual stocks despite the overall index performance.
Criteria for Selecting Growth Stocks
Citi has screened for growth stocks that meet specific criteria for consideration on a pullback. These criteria include a buy rating from the firm, at least 75% of market cap assigned to growth-style per Russell, a decline of 10% or more from year-to-date highs (after March 31), consensus free cash flow per share estimates above March 31 levels, and FY5 free cash flow per share greater than or equal to market-implied estimates.
Selected Stocks and Analyst Projections
The following stocks have met the criteria and are worth considering:
- Lockheed Martin: The defense and aerospace company has seen an 18% decline from its 2023 high in April. However, its free cash flow per share consensus estimate has increased since March. Despite facing supplier issues and reducing its full-year delivery forecast for F-35 jets, analysts still see potential for this stock.
- Pinterest: Despite a modest rally following its recent investor day, Pinterest shares remain down 14% from their year-to-date highs. However, the company’s management is forecasting revenue expansion this year, and the full-year free cash flow per share estimate has improved since the first quarter.
- Nvidia: This chipmaker has had an impressive year, with a surge of over 188%. However, the stock is now down 18% from its peak in late August. Despite concerns of overvaluation, analysts believe there is still room for growth, with an average price target suggesting a potential 47.7% rally from the current price.
- KLA: Dutch-based KLA has experienced a 14% decline from its 2023 peak but remains more than 20% higher for the year. Analysts see potential for this stock as well.
It’s important to note that these projections are based on current information and market conditions, and they may change over time. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
Growth Stocks Present Buying Opportunity as Index Pulls Back
Overview
The Russell 1000 Growth Index, which has experienced significant gains in 2023, has recently seen a pullback, creating a potential opportunity to buy growth stocks at a lower price. According to Citi strategist Scott Chronert, the index has declined more than 6% since reaching its peak on July 19, with many individual stocks experiencing even larger drops. This suggests that there may be hidden pressure on individual stocks despite the overall index performance.
Criteria for Selecting Growth Stocks
Citi has screened for growth stocks that meet specific criteria for consideration on a pullback. These criteria include a buy rating from the firm, at least 75% of market cap assigned to growth-style per Russell, a decline of 10% or more from year-to-date highs (after March 31), consensus free cash flow per share estimates above March 31 levels, and FY5 free cash flow per share greater than or equal to market-implied estimates.
Selected Stocks and Analyst Projections
The following stocks have met the criteria and are worth considering:
- Lockheed Martin: The defense and aerospace company has seen an 18% decline from its 2023 high in April. However, its free cash flow per share consensus estimate has increased since March. Despite facing supplier issues and reducing its full-year delivery forecast for F-35 jets, analysts still see potential for this stock.
- Pinterest: Despite a modest rally following its recent investor day, Pinterest shares remain down 14% from their year-to-date highs. However, the company’s management is forecasting revenue expansion this year, and the full-year free cash flow per share estimate has improved since the first quarter.
- Nvidia: This chipmaker has had an impressive year, with a surge of over 188%. However, the stock is now down 18% from its peak in late August. Despite concerns of overvaluation, analysts believe there is still room for growth, with an average price target suggesting a potential 47.7% rally from the current price.
- KLA: Dutch-based KLA has experienced a 14% decline from its 2023 peak but remains more than 20% higher for the year. Analysts see potential for this stock as well.
It’s important to note that these projections are based on current information and market conditions, and they may change over time. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
Growth Stocks Present Buying Opportunity as Index Pulls Back
Overview
The Russell 1000 Growth Index, which has experienced significant gains in 2023, has recently seen a pullback, creating a potential opportunity to buy growth stocks at a lower price. According to Citi strategist Scott Chronert, the index has declined more than 6% since reaching its peak on July 19, with many individual stocks experiencing even larger drops. This suggests that there may be hidden pressure on individual stocks despite the overall index performance.
Criteria for Selecting Growth Stocks
Citi has screened for growth stocks that meet specific criteria for consideration on a pullback. These criteria include a buy rating from the firm, at least 75% of market cap assigned to growth-style per Russell, a decline of 10% or more from year-to-date highs (after March 31), consensus free cash flow per share estimates above March 31 levels, and FY5 free cash flow per share greater than or equal to market-implied estimates.
Selected Stocks and Analyst Projections
The following stocks have met the criteria and are worth considering:
- Lockheed Martin: The defense and aerospace company has seen an 18% decline from its 2023 high in April. However, its free cash flow per share consensus estimate has increased since March. Despite facing supplier issues and reducing its full-year delivery forecast for F-35 jets, analysts still see potential for this stock.
- Pinterest: Despite a modest rally following its recent investor day, Pinterest shares remain down 14% from their year-to-date highs. However, the company’s management is forecasting revenue expansion this year, and the full-year free cash flow per share estimate has improved since the first quarter.
- Nvidia: This chipmaker has had an impressive year, with a surge of over 188%. However, the stock is now down 18% from its peak in late August. Despite concerns of overvaluation, analysts believe there is still room for growth, with an average price target suggesting a potential 47.7% rally from the current price.
- KLA: Dutch-based KLA has experienced a 14% decline from its 2023 peak but remains more than 20% higher for the year. Analysts see potential for this stock as well.
It’s important to note that these projections are based on current information and market conditions, and they may change over time. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
Growth Stocks Present Buying Opportunity as Index Pulls Back
Overview
The Russell 1000 Growth Index, which has experienced significant gains in 2023, has recently seen a pullback, creating a potential opportunity to buy growth stocks at a lower price. According to Citi strategist Scott Chronert, the index has declined more than 6% since reaching its peak on July 19, with many individual stocks experiencing even larger drops. This suggests that there may be hidden pressure on individual stocks despite the overall index performance.
Criteria for Selecting Growth Stocks
Citi has screened for growth stocks that meet specific criteria for consideration on a pullback. These criteria include a buy rating from the firm, at least 75% of market cap assigned to growth-style per Russell, a decline of 10% or more from year-to-date highs (after March 31), consensus free cash flow per share estimates above March 31 levels, and FY5 free cash flow per share greater than or equal to market-implied estimates.
Selected Stocks and Analyst Projections
The following stocks have met the criteria and are worth considering:
- Lockheed Martin: The defense and aerospace company has seen an 18% decline from its 2023 high in April. However, its free cash flow per share consensus estimate has increased since March. Despite facing supplier issues and reducing its full-year delivery forecast for F-35 jets, analysts still see potential for this stock.
- Pinterest: Despite a modest rally following its recent investor day, Pinterest shares remain down 14% from their year-to-date highs. However, the company’s management is forecasting revenue expansion this year, and the full-year free cash flow per share estimate has improved since the first quarter.
- Nvidia: This chipmaker has had an impressive year, with a surge of over 188%. However, the stock is now down 18% from its peak in late August. Despite concerns of overvaluation, analysts believe there is still room for growth, with an average price target suggesting a potential 47.7% rally from the current price.
- KLA: Dutch-based KLA has experienced a 14% decline from its 2023 peak but remains more than 20% higher for the year. Analysts see potential for this stock as well.
It’s important to note that these projections are based on current information and market conditions, and they may change over time. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
