Many world growth stocks will beat the S&P 500 in 2023, according to top analysts. A big basket of these issues have already rallied more than 15% this year. But how do you find these top-performing issues?
Picking up foreign investments may sound difficult, but it is not.Investors can uncover best foreign growth stocks perusing the Global Leaders list on IBD's stock screener.
Based in Bermuda, Teekay Tankers provides international marine transportation services. TNK stock is in a buy zone from a cup base's 36.71 entry and has rallied 22% so far this year.
The robust 96 Composite Rating nearly matches the excellent 98 Relative Strength Rating. Sales rose 141% to $279.4 million in the third quarter while earnings of $1.70 per share marked excellent growth. In addition, more mutual funds have been buying the stock over the past five quarters.
Teekay belongs to the Oil & Gas-Transport/Pipeline industry group, which ranks 38th among IBD's 197 industry groups.
Foreign Growth Stocks Rally In 2023
Geneva, Switzerland-based ST Microelectronics designs develops, manufactures and sells semiconductor products in several continents.
STM stock is in a cup-with-handle base with a 50.90 buy point after rallying more than 30% this year. The RS line is at a 52-week high as the stock carves the base's right side.
Q4 2022 sales rose 24% to $4.42 billion while earnings grew 61% to $1.32 per share.
The stock has a near-ideal 97 Composite Rating and high 92 RS Rating. Both sales and earnings have grown over the past eight quarters.
STM belongs to the Semiconductor-Manufacturing subsector, which ranks 69th among 197 industry groups.
Also based in Switzerland, UBS provides asset management, corporate and personal banking, and wealth management services. UBS stock has rallied 15% so far this year.
Shares are grinding though a cup base with an entry of 21.58. This growth stock has 96 Composite and a 91 RS Ratings.
Q4 2022 sales grew 15% to $11.0 billion while earnings of 50 cents per share marked impressive 32% growth. UBS ranks first in the Banks-Money Center group, which holds 42nd place among IBD's 197 groups.
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