Ingredion(INGR) ZACKS·2024-12-04 14:01Market Overview - U.S. stock markets ended November positively, continuing a strong rally since January 2023, with the Dow, S&P 500, and Nasdaq Composite increasing by 13.7%, 23.9%, and 43.4% respectively in 2023 [1] - Year-to-date performance shows the Dow, S&P 500, and Nasdaq Composite advancing by 18.5%, 27.6%, and 31.9% respectively [1] Economic Indicators - The Federal Reserve's dovish stance and favorable economic data are expected to support U.S. stock markets in December [2] - U.S. GDP growth rates for the first three quarters of 2024 were 1.6%, 3%, and 2.8%, with a projected growth rate of 2.7% for Q4 [3] - The Personal Consumption Expenditure (PCE) price index for October rose by 0.2% month-over-month and 2.3% year-over-year, while the core PCE increased by 0.3% month-over-month and 2.8% year-over-year, aligning with consensus estimates [4] - The U.S. consumer confidence index for November was reported at 111.7, surpassing the consensus estimate of 111 [5] - The Present Situation Index increased to 140.9 from 136.5 in October, and the Expectations Index rose to 92.3 from 91.9, indicating a positive outlook [6] Growth Stock Recommendations - Five growth stocks recommended for December include monday.com Ltd. (MNDY), Inspire Medical Systems Inc. (INSP), Ingredion Inc. (INGR), Parsons Corp. (PSN), and Impinj Inc. (PI) [2][7] monday.com Ltd. (MNDY) - Expected revenue and earnings growth rates for 2025 are 25.6% and 11.7% respectively, with a Zacks Consensus Estimate for next-year earnings improving by 8.8% [12] - The average short-term price target indicates a potential increase of 17.9% from the last closing price of 191.90, indicating a maximum upside of 40.7% [15] Ingredion Inc. (INGR) - Expected revenue and earnings growth rates for next year are 1.3% and 6.1% respectively, with a Zacks Consensus Estimate for next-year earnings improving by 3.7% [17] - The average short-term price target indicates a potential increase of 12.4% from the last closing price of 94.75, indicating a maximum upside of 37.2% [20] Impinj Inc. (PI) - Expected revenue and earnings growth rates for next year are 19.5% and 33.9% respectively, with a Zacks Consensus Estimate for next-year earnings improving by 4.2% [23] - The average short-term price target indicates a potential increase of 30% from the last closing price of $188.21, with a maximum upside of 43.5% [23]