Buy Shares of This Supercharged Growth Stock Today to Beat the Market in 2023
For thousands of years, people have sought to improve their physical appearances with all sorts of aesthetic interventions ranging from the banal to the bizarre. For a much shorter period of time, canny investors have been able to profit by placing their bets on the companies developing the most sophisticated tools and products in the beauty field. Enter InMode (NASDAQ: INMD), a rapidly growing Israeli business that develops fat-liquefying and skin-tightening devices for use by plastic surgeons and medical aestheticians.
InMode's share price is near $32.40 right now, but on average, Wall Street analysts have its one-year price target at around $50.40, which implies they think its shares could grow by more than 55.5%. If we assume that the market will return somewhere between 10% and 13% in 2023 -- in line with its long-term annual average -- InMode is a shoo-in to beat the market.
In my view, its two-pronged growth strategy and its currently favorable valuation give it a solid chance to produce supercharged gains in 2023.
Source Fool.com
