Don't Wait Until the Dip Is Over to Buy These 2 Magnificent Growth Stocks
After a positive start in January, the S&P 500 has sold off since the start of February and is now down 12.5% over the last year. Given the broader market index dip, it makes sense to start looking to buy some stocks with excellent long-term growth prospects. Data center equipment company Vertiv (NYSE: VRT) and Google owner Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) are two great stocks to consider.
Based on management's full-year 2023 guidance, Vertiv stock is a great value. For example, management is expecting 14% to 17% organic revenue growth, adjusted free cash flow (FCF) of $300 million to $400 million, and adjusted diluted earnings per share (EPS) of $1.17 to $1.27. The midpoint of guidance puts Vertiv on a forward price-to-FCF multiple of around 14 times FCF and a forward price-to-earnings multiple of less than 11 times earnings.
Moreover, given the long-term demand growth in Vertiv's core end market of data centers and digital infrastructure equipment, Vertiv's stock looks like a no-brainer.
Source Fool.com
