Despite several uncertainties, the overall U.S. economy is continuing to demonstrate a solid recovery. With favorable central bank policies and potential federal spending, the economy should continue to grow. Given this backdrop, growth-focused stocks with a significant market share and solid fundamentals, such as Regeneron Pharmaceuticals (NASDAQ:REGN), Piper Sandler (PIPR), and Marcus & Millichap (MMI) could see a significant increase in their earnings this year.Despite the continued spread of the Delta coronavirus variant, the economy demonstrates a solid recovery, supported by an accommodative monetary policy and federal spending. The proposed infrastructure spending should boost the performance of several industries, strengthening the economy further.
Spending rose in August by 0.8% while personal income increased 0.2%, reflecting a positive picture. Moreover, The Congressional Budget Office (CBO) estimates real GDP growth of 7.4% year-over-year in the fourth quarter of this year.
Given the expectation of continued economic recovery, growth stocks Regeneron Pharmaceuticals, Inc. (REGN), Piper Sandler Companies (PIPR), and Marcus & Millichap, Inc. (MMI) could witness impressive earnings growth this year. Analysts expect their earnings to increase by at least 70% this year. Thus, these stocks could be solid additions to your portfolio now.