After a brutal 2022, growth stocks are expected to stage a recovery amid cooling inflation, the Fed’s downshift on monetary policy tightening, and recent economic data, including strong retail sales and job growth, hinting at the possibility of the economy getting a soft landing. Amid an improving economic backdrop, it could be wise to buy this fundamentally sound growth stock Gilead Sciences, Inc. (GILD), and hold it forever.
Shares of GILD have gained 24.8% over the past six months and 30% over the past year to close the last trading session at $79.62. Furthermore, Wall Street analysts expect the stock to hit $91.59 in the near term, indicating a potential upside of 15%.
