Rushing in and out of stocks might not be the best way to approach the market, considering the fact that a significant economic slowdown is on the horizon. Businesses of all sorts will either be forced to close or endure a considerable reduction in demand now that a second wave of the virus is spreading across the land…
Instead of trying to make money short-term by flipping stocks, shift your sights to growth stocks. Buy and hold the right growth stocks for decades, and your nest egg should gradually expand.
Sherwin-Williams Company (SHW)
Tech stocks have soared during the pandemic, sharing the spotlight with home-oriented stocks such as SHW. Though few know it, SHW has been in business for more than 150 years.
The mere fact that people are spending that much more time at home has helped the likes of SHW. SHW makes, distributes, and sells paint and related products to homeowners, professional painters, commercial customers, and industrial customers. SHW customers are mainly located in North and South America.
Check out the SHW POWR Ratings, and you will find “A” grades in the Buy & Hold Grade, Trade Grade, and Industry Rank components. SHW is ranked second out of 69 stocks in the Home Improvement & Goods industry. Analysts set a price target of $761.40, indicating a potential upside of nearly 4%.
SHW recently boosted its earnings outlook, noting particularly strong demand. This is the company’s second upgrade to its outlook, indicating substantial growth could be on the horizon, despite the pandemic.
Dollar General Corporation (DG)
The recession has steered that many more customers to DG stores. As the largest discount retailer in the country, DG sells merchandise, typically priced at $10 or less. Furthermore, most DG stores also carry additional sundries ranging from seasonal items to apparel, home products, and consumables. Both private brands and national brands are available at DG stores. In fact, products from the likes of Hanes, Energizer, Clorox, Mars, and Coca-Cola are sold at DG stores.
Even if the economy returns to normal in the months ahead, DG will benefit as more people have gotten into the habit of shopping at the company’s stores. The bottom line is…
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