New Investor? Buy These 2 Growth Stocks
Picking stocks to buy isn't easy, and new investors should be cautious when they're starting out. That said, if you are about to wade into the market and open some positions for the long term, you may want to look at a couple of stocks that offer a combination of exciting growth prospects and relative safety: industrial giant Honeywell International (NASDAQ: HON) and agricultural technology company Corteva (NYSE: CTVA). Let's find out a bit more about these two growth stocks.
Large diversified industrial conglomerates are often seen as sleepy low-growth cash cows. This is because their mixed balance of businesses gives them some surety of earnings. After all, short-term weakness in one area (say, aerospace) can be balanced by strength in another (for example, energy-related spending). However, their size and mix of businesses make it difficult for such companies to escape the growth trajectory of the economy at large. As a result, investors usually look at a $36 billion turnover company like Honeywell and quickly conclude it is a low-growth business.
However, the reality is somewhat different. At the company's investor conference earlier this year, management upgraded its long-term growth forecast to 4% to 7% a year from the 3% to 5% growth it guided for previously. The reason comes down to the host of growth drivers embedded within Honeywell's portfolio of businesses.
Source Fool.com
