3 Red-Hot Stocks That Could Continue to Soar

Even as inflation and a host of other threats have unnerved many investors, stocks continue to hit new record highs. This rally was helped over the past month by a very strong third quarter earnings season. Plus, stocks are still one of the most…

attractive asset classes right now, with interest rates so low.

Whether the overall momentum of the stock market continues or slows down, we know certain stocks have a higher chance of continuing this upward trend than others.  That’s why I look at the Momentum grade in our POWR Ratings system.  Stocks with a Momentum Grade of A or B are more likely to see future price gains.

So I ran a screen of stocks in the POWR Ratings with both an Overall grade of A or B, and a Momentum Grade of A or B. Accenture PLC (ACN – Get Rating), American Express Co. (AXP – Get Rating), and Infosys Limited (INFY – Get Rating) are three that ranked high in the results.

Accenture PLC (ACN – Get Rating)

ACN is a leading global IT-services firm that provides consulting, strategy, technology, and operational services. These services run the gamut from aiding enterprises with digital transformation to procurement services to software system integration. The company provides its IT offerings to various sectors, including communications, media and technology, and financial services.

The company has been gaining in its outsourcing and consulting businesses. This is due to the high demand for its services that can improve operating efficiencies plus save costs. For instance, ACN is seeing strong demand for the maintenance of digital-related services and cloud enablement. Speaking of which, the firm has been enhancing its cloud and digital marketing suite through partnerships and buyouts.

ACN has an overall grade of B, which translates into a Buy rating in our POWR Ratings system. The company has a Momentum Grade of B as the stock has shown strong near-, mid-, and long-term performance. For instance, the stock is up 8.7% over the past month and 56.6% year to date. ACN also has a Quality Grade of B due to solid fundamentals.

The company has a current ratio of 1.3 and a debt-to-equity ratio of 0.2. We also provide Growth, Value, Stability, and Sentiment grades for ACN, which you can find here. ACN is ranked #5 in the A-rated Outsourcing – Tech Services industry. For more top stocks in this industry, click here.

American Express Co. (AXP – Get Rating)

AXP is a global financial institution operating in about 130 countries that provide consumers and businesses with charge and credit card payment products. The company also operates a highly profitable merchant payment network. Plus, its commercial business offers expense management tools, consulting services, and business loans.

The firm recently reported solid third-quarter results. Both revenue and earnings beat expectations and rose year over year. In fact, earnings jumped 74.6% year over year. This was driven by…

 

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