Have the markets turned the corner? Maybe not – but maybe so, at least for the short term. Despite rising inflation in the States, and Russia’s continuing war against Ukraine, high prices for oil, and disruptions in the global commodity markets, Wall Street just finished its best week since November of 2020. Between March 14 and March 18, the S&P 500 rose ~6%, while the NASDAQ was up ~9%. Investors were clearly in a buying mood, and the indexes reflected it.
However, some Wall Street pros are understandably concerned that the market is still vulnerable. In this environment, investors are going to gravitate toward stocks that have proven records of strong share price appreciation. While we all know that past performance won’t guarantee future results, the best place to start looking for tomorrow’s high-growth stocks is among yesterday’s winners.
Using TipRanks’ database, we’ve found three ‘monster growth’ names that saw hefty gains over the past 12 months. Each name is well-loved by Wall Street analysts, and has received enough bullish calls to score a “Strong Buy” consensus rating.
Golar LNG Limited (GLNG)
We’ll start in the energy industry, where Golar LNG has exploited some economic quirks of the natural gas industry to become a leader in the liquified natural gas sector. The company specializes in the building and operation of floating natural gas liquefaction facilities, a niche that makes it possible to exploit previously non-economic gas reserves. Natural gas must be liquefied for safe long-distance transport, and Golar brings the liquefaction facilities to the gas fields – and can move those facilities when necessary. Golar boasts that its floating gas liquefaction fleet can operation at a lower cost than land-based facilities.
High energy prices, and particularly rising prices for natural gas on the global market, has been good for Golar. The company has seen its share price rise 70% so far this year.
A quick look at the company’s earnings will show the extent of the growth, and the potential. In 4Q21, Golar showed $93.5 million…