3 Top Ranked Growth Stocks That are Compelling Buys By StockNews

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© Reuters. 3 Top Ranked Growth Stocks That are Compelling Buys

The much covered cyclical rotation appears to be losing steam as growth growth are back in favor. With most places already opening up, the pent-up demand from last year is dissipating. That’s why David Cohne recommends growth stocks such as Corning (GLW), Whirlpool (WHR), and Louisiana-Pacific Corporation (NYSE:).2020 was the year of the growth stock, with technology shares leading the way. As vaccine approvals hit the news late fall, a rotation into more cyclical names took place. This made sense as an improving economy would undoubtedly benefit stocks that were hammered in 2020. But that rotation appears to be running out of steam, which means certain growth stocks are ripe for the picking.

So far in April, the SPDR S&P 500 Growth ETF (SPYG) has gained 7.7%, compared to a 4.2% gain for the SPDR S&P 500 Value ETF (SPYV). With many parts of the country already opened up, much of the pent-up demand is likely priced into the market. On the other hand, growth stocks appear to be gaining momentum, as evidenced by SPYG’s ETF Trade Grade of A in our POWR Ratings system.

While a diversified growth ETF may have played well last year, we need to be more selective this year as not all growth stocks will see their shares increase. That’s why I ran a screen for the top growth stocks in our POWR Rating system, with a Growth Grade of A and a Momentum Grade of A. This gives us the best of both worlds: top-ranked growth stocks exhibiting price strength. Here are my top three: Corning Incorporated (NYSE:), Whirlpool Corporation (NYSE:), and Louisiana-Pacific Corporation (LPX).

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