Winthrop Capital's Adam Coons expects growth stocks to continue to outperform value stocks: 'We are looking for higher quality names.'
A bumpy few months for mega caps like the "Magnificent Seven" have led some investors to question whether now is the best time to be buying growth stocks. One investor says growth stocks still offer opportunities — but it's time to get selective. "Growth stocks will continue to outperform value stocks, generally speaking.
The company recently reported that it had increased expectations for its 2024 adjusted profit from flat to " mid-to-high single-digit percentage " growth. It has also been investing in its Venmo debit and credit cards which has proved instrumental in "PayPal's growth strategy as it offered more avenues to reach out to its great user base," according to Coons. According to FactSet data, of 48 analysts covering the stock, 22 give it a buy or overweight rating.
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