Although rising treasury yields and deepening concerns over inflation are leading to a pullback for the stock market, the long-term growth prospects of ArcelorMittal (NYSE:MT), Steel Dynamics (NASDAQ:STLD), Skechers U.S.A. (SKX), and Terex (NYSE:TEX) make them solid investments. Wall Street analysts expect these stocks to gain significantly in the near term.Since the Fed signaled to start bond tapering in the near term, U.S. Treasury yields rose sharply. This, along with deepening concerns over inflation, has led to a stock market correction. So, this could be the right opportunity to invest in stocks holding exceptional growth potential at lower price levels.
Investors’ interest in growth stocks is evident from the SPDR S&P 500 Growth ETF’s (SPYG) 15.2% returns over the past six months. This compares to the SPDR S&P 500 Trust ETF’s (SPY) 9.8% returns over this period.
ArcelorMittal (MT), Steel Dynamics, Inc. (STLD), Skechers U.S.A., Inc. (SKX), and Terex Corporation (TEX) possess solid growth attributes, and Wall Street analysts expect these stocks to gain significantly in the near term as they are currently underpriced. So, it could be wise to bet on these stocks now.