Stock Pick #1 – AmerisourceBergen
Recommended by: Louis Navellier, editor of Blue Chip Growth
Health care provider AmerisourceBergen Corp. (NYSE: ABC) is one of my favorite growth stocks right now. And the numbers show why. ABC recently reported financial results for its fiscal third quarter, showing a sizable surge in both sales and earnings. The company said that its net income was $163.2 million, or $0.57 per share, representing a +37% year-over-year increase. Excluding a one-time benefit, AmerisourceBergen said it earned $0.52 per share, which beat analysts’ earnings per share expectations with a nice +6% surprise. Additionally, sales for the company increased +7% to $19.6 billion from $18.39 billion a year earlier.
As a result, AmerisourceBergen raised its earnings and sales forecasts for the full year. ABC now expects a year-end profit of $2.16 to $2.20 per share and said its sales will increase between +8% and +9%. This is growth you can bank on. After a dip in shares this August, now is a great buying opportunity for ABC stock.