2 Growth Stocks to Keep Your Eye On

NYSE: BYD | Boyd Gaming Corporation  News, Ratings, and Charts

BYD – Growth stocks were the big winners in 2020 as some of the biggest companies in the world benefited from the pandemic. There was a rotation into cyclical stocks this year, but don’t count growth out yet. There are still plenty of growth stocks that are trading at attractive valuations such as Boyd Gaming Corporation (BYD) and Jabil (JBL).

According to the investment media’s stock market narrative, money justly moved out of tech and growth stocks toward value stocks after an epic bull run during the thick of the pandemic. Though the talking heads on the top financial networks often point to specific reasons for the rise and fall of specific groups of stocks and the overarching market, the truth is that market movement is often difficult to explain.

If the mainstream investment media’s narrative is true and the pendulum rightfully swung in favor of value stocks following the influx of money into tech as the pandemic roared, it is only a matter of time until the pendulum swings back. The bottom line is money will gravitate toward growth stocks in the long run, simply because growth stocks have considerable upside.

Below, I provide an in-depth look at two growth stocks investors should take a look at in the days, weeks, and months ahead. These two stocks are Boyd Gaming Corporation (BYD) and Jabil (JBL).

Boyd Gaming Corporation (BYD)

BYD has been in business since the mid-70s. Based in fabulous Las Vegas, BYD has gaming properties throughout the silver state as well as Indiana, Ohio, Illinois, and about half a dozen other states. BYD has 29 properties and more than 300 food/beverage outlets.

BYD is a POWR Rating monster with an overall grade of A. This grade indicates the stock is rated a Strong Buy. BYD has an A Growth Grade and an A Sentiment Grade. The company also has Bs in the Quality and Momentum components. Click here to find out BYD’s grades in the Value and Stability components. BYD is the top-ranked stock in the Entertainment – Casinos/Gambling industry. You can find other top stocks in this industry by clicking here.

Analysts are singing the praises of BYD, establishing an average target price of $78.11 for the stock. If BYD hits this target, it will have increased by more than 36% in value. The highest analyst target price for the stock is $83. Of the analysts who cover BYD, three rate it a Strong Buy, and five rate it a Buy. BYD has a forward P/E ratio of 16.74, indicating the stock is undervalued at its current price. 

Jabil (JBL)

JBL, a St. Petersburg, Florida-based electronics manufacturing services provider, is one of the largest global suppliers in its space. JBL offerings include electronics, after-market services, and more for consumers and businesses in a wide variety of sectors. JBL hauled in more than $27 billion in fiscal 2020.

JBL has an overall grade of B, translating into a Buy rating in our POWR Ratings system. The stock has grades of B in the Sentiment and Value components. Click here to find out how JBL fares in the Growth, Momentum, Stability, and Quality components. JBL is ranked in the top five of the 73 publicly traded companies in the Technology – Services industry. Click here to find other top-ranked stocks in this industry.

If the analysts are correct, JBL will move higher. The average analyst target price for JBL is $69.71. If JBL hits this price, it will have soared by more than 25%. In the past 34 weeks, the average analyst price target for JBL has increased $25.38. JBL has a forward P/E ratio of 10.28. This is a fairly low P/E which indicates JBL is undervalued at $58.01 per share. 


BYD shares were unchanged in premarket trading Friday. Year-to-date, BYD has gained 34.76%, versus a 17.92% rise in the benchmark S&P 500 index during the same period.


About the Author: Patrick Ryan


Patrick Ryan has more than a dozen years of investing experience with a focus on information technology, consumer and entertainment sectors. In addition to working for StockNews, Patrick has also written for Wealth Authority and Fallon Wealth Management. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
BYDGet RatingGet RatingGet Rating
JBLGet RatingGet RatingGet Rating

Most Popular Stories on StockNews.com


Christmas in July for Stock Investors!

Yes, the S&P 500 (SPY) made new highs again on Tuesday. But really it is the 6X gain for the Russell 2000 small cap index Tuesday...and 12% gain this past week that is grabbing everyone’s attention. Let’s discuss why this is happening...if it will continue...and my 12 favorite stocks to rally in the weeks ahead. Read on for more...

3 Promising Tech Stocks Under $40 for Long-Term Investment

The increasing demand for technology services worldwide fuels the tech industry. Amid this backdrop, it could be wise to buy under $40 tech stocks, such as HP Inc. (HPQ), Box, Inc. (BOX), and Teradata Corp (TDC), for long-term investment. Continue reading…

3 MedTech Stocks to Add to Your Portfolio in July

The MedTech sector’s promising future is driven by technological advances, unceasing demand for medical treatments due to an aging population, and increasing global incidence of diseases. To that end, strong MedTech stocks such as Tactile Systems Technology (TCMD), Electromed (ELMD), and Embecta (EMBC) could be wise portfolio additions in July. Read more...

3 Bank Stocks Benefiting From High Interest Rates

Amid global economic uncertainties, major U.S. banks like JPMorgan (JPM), Wells Fargo & Company (WFC), and PNC Financial Services (PNC) have defied expectations with strong revenue and earnings reports for the second quarter. Considering their robust performance, investing in these stocks could offer stable returns to your portfolio. Read more…

Investor Alert: Load Up on Small Cap Stocks!

Large caps time in the sun is now over and thus no shock that the S&P 500 (SPY) pulled back from recent highs. It is time for small caps to shine which was clear in their nearly 4% gain Thursday even as the Magnificent 7 was bathed in red. Why is this happening? What comes next? And what are the best stocks to own now? The answers to all that and more are shared in the commentary below...

Read More Stories

More Boyd Gaming Corporation (BYD) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All BYD News