With the market seemingly wanting to go higher, and the statistics from a contrarian standpoint actually pointing to more gains, it could prove interesting to see if this summer we can indeed challenge the market highs printed last summer. With the indexes just slightly below where they were in May of 2015, and two big corrections in a six-month period in the books, it may be time to add some solid growth ideas to portfolios.
In a recent research note, Jefferies analysts focus on some growth stocks to buy that could have some solid upside from current levels, and that also are not part of the overly crowded trade club. All three of the following stocks make good sense for more aggressive growth portfolios looking to add some solid companies with good upside potential.
This company had a record first quarter and the start to the second quarter looks very promising as well. CME Group Inc. (NASDAQ: CME) exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options. CME Group brings buyers and sellers together through its Globex electronic trading platform and its trading facilities in New York and Chicago.
The company also operates CME clearing, one of the world’s leading central counterparty clearing providers, which offers clearing and settlement services across asset classes for exchange traded contracts and over-the-counter derivatives transactions.
The Jefferies team notes that the company’s non-U.S. business is growing, and with West Texas Intermediate oil increasing in relevance as a global benchmark, that is another positive for the trading giant.
CME investors are paid a solid 2.53% dividend. The Jefferies price target for the stock is $104, and the Thomson/First Call consensus target price is posted at $100.21. The stock closed on Tuesday at $94.44 per share.