There’s a reason I use the word criminal in this title today. These growth stocks remain so cheap, so undervalued based on future potential, that I feel like I’m stealing at these prices. But here we are in a market weighed down by uncertainty, volatility, inflation, and a pandemic. These conditions have created a poor stock market, but a prime investing opportunity.
Millionaires in the making
Some of these growth stocks are so low, there will assuredly be millionaires made out of them in the coming years. In fact, next year alone could achieve that goal, if only these three growth stocks return to “normal levels.”
I say normal, because all three are far below where analysts price them. In all three cases, analysts believe these stocks should more than double to reach the target price. Some may triple, or higher, to reach all-time highs once more.
Yet, all are under the weight of those problems I listed earlier. A pandemic causing lower travel and creating volatility of tech stocks; and the worry that the end of the pandemic could mean the end to an entire business. But analysts don’t believe that’s the case for these three growth stocks.
Returning to normalcy
The three growth stocks I’m going to briefly discuss here are Lightspeed Commerce (TSX:LSPD)(NYSE:LSPD), Air Canada (TSX:AC) and Goodfood Market (TSX:FOOD). So first, let’s look at the problems each of these growth stocks are facing.
In the case of Lightspeed, the company is coming back from a short seller report and supply-chain issues that caused the tech stock to drop. However, analysts believe Lightspeed has shown its acquisitions were good investments, with partnerships arising that have already brought in revenue.
For Air Canada, the pandemic brought planes down from the sky. The stock’s share price has yet to lift off higher than $31, and as of writing remains around $20 per share. But it recently returned the remainder of its government package, and now has $7.1 billion in financing in place. It knows how to handle the pandemic, with bookings returning to 2019 levels.
Finally, Goodfood continues to create opportunities to keep customers coming back for more. Breakfast, lunch, dinner, grocery items, and fast delivery created more revenue this year. However, there is so much more room to grow when in comparison to its peers.
What growth could look like
In the next year, here are the target prices for each of these growth stocks. Lightspeed could reach $125, Air Canada $30, and Goodfood $6.80. As of writing, that would represent a potential upside of 136%, 50% and 79% respectively.
However, should these growth stocks reach all-time highs the numbers are even more impressive. Lightspeed could jump 211% to $165 per share, Air Canada 150% to $50 a share, and Goodfood 285% to $14.72 per share!
The numbers are there for these growth stocks. And if you have the cash, you could certainly make millions if these share prices come to fruition in the next year. Time heals all wounds, and in the case of these three growth stocks, could provide an upside that’s a complete steal.