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On Friday, the U.S. Commerce Department announced that Q2 economic growth registered at 4.1%. That figure was largely in line with expectations, as economists and analysts projected a positive figure in the wake of U.S. President Donald Trump's tax reform.
The 4.1% figure was the largest quarterly jump since July 2014.
It's a sign of increased consumer spending and increased business investment. On Friday, President Trump assured Americans that economic growth will only go higher.
So, how do we tap into the continued growth of the U.S. economy and prosper from the stocks set to outperform the S&P 500?
We can identify the top-rated stocks thanks to our proprietary valuation system, the Money Morning Stock VQScore™.
The VQScore finds the stocks that are priced to get you the biggest returns.
And today, we're going to show you three stocks that recently entered our "Buy Zone."
Stocks to Buy After the GDP Report, No. 3: Companhia Siderúrgica Nacional
One of the top ranked companies our valuation system uncovered is steel giant Companhia Siderúrgica Nacional (NYSE: SID). This firm is the second-largest steel producer in Brazil, and it's been a terrific two weeks for SID shareholders.
On July 11, the stock was trading at $1.91 per share. Today (July 27), it popped to $2.41. That's a 26% gain in just two weeks.
The stock has rallied on the backs of U.S. tariffs against aluminum and steel originating from Europe, Canada, Mexico, and China. This week, German metals distributor Klöckner & Co. SE said that its American affiliate is benefiting heavily from price increases thanks to tariffs.
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The news raised speculation that Companhia Siderúrgica could receive a similar benefit.
SID exports just 6% of its steel products to the United States.
The firm should be able to redirect this small amount of its exports to its own internal market or to other growing economies.
Outside of the steel industry, we're also looking at the global energy market.
As big oil struggles, this company could be one of the best acquisition targets in the solar market...
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Stocks to Buy After the GDP Report, No. 2: Canadian Solar Inc.
Oil giants are struggling as North American companies are turning more and more to alternative energy sources.
However, that's good news for Canadian Solar Inc. (Nasdaq: CSIQ).
The company is trading at a price-to-tangible book value of just 0.71. This means that you could effectively liquidate the company right now, and the sum of its parts would be higher than the market capitalization.
This is a rare value hiding in plain sight, and it could be a potential takeover target for a large energy company looking to make a strategic splash in the global solar energy market.
Stocks to Buy After the GDP Report, No. 1: Mizuho Financial Group Inc.
Based in Tokyo, Mizuho Financial Group Inc. (NYSE: MFG) is a bank holding company and the second-largest financial services company in Japan.
Mizuho controls assets worth more than $1.8 billion, which puts the company just after Mitsubishi UFJ Financial Group Inc.
The stock is currently trading at $3.53, and analysts expect it could climb to $4.13 in the next 12 months.
For more on why MFG is among our favorite penny stocks (and the names of two others), go here now.
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