7 Growth Stocks Positioned for Further Growth

AbbVie Inc. (NYSE: ABBV) is frequently talked about as one of the best income stocks. That’s backed up by the company’s status as a Dividend King. But there are several reasons to believe that growth-oriented investors will want to take a closer look at this biopharmaceutical sector leader. 

The company’s revenue and earnings were expected to take a hit after the patent expired on its blockbuster drug, Humira, in 2023. However, AbbVie has since launched drugs like Skyrizi and Rinvoq, which have helped mitigate the impact of lower Humira sales.

AbbVie already has a deep pipeline of drug candidates, but that didn’t stop the company from acquiring Nimble Therapeutics in December 2024, adding even more potential autoimmune drugs that it can bring to market.  

Analysts project AbbVie to grow earnings at around 20%. If that’s accurate, ABBV stock is more likely to deliver a total return closer to its five-year average of around 28%.  

You shouldn't think of Uber Technologies Inc. (NYSE: UBER) as a "forever stock." But if you’re looking for growth stocks that should outperform the market in the short term, the ridesharing leader is one to consider. 

The bullish outlook for Uber hinges on its growing network effect. The company is seeing an increase in users on its platform, and those users are engaging more frequently over time.

In 2024, UBER stock was more of a trade than an investment, with a 58% swing between its 52-week high and low. Much of that uncertainty comes from the emergence of autonomous vehicle technology, which poses a significant long-term challenge for Uber’s business model.

While autonomous driving holds promise, analysts agree it remains several years from widespread adoption. For now, Uber offers strong growth potential. Analysts predict earnings growth of 33%, supporting a consensus price target of $91.53—a potential upside of over 34%.

If you’re willing to look outside the United States and a high price per share doesn’t bother you, MercadoLibre Inc. (NASDAQ: MELI) is a solid choice. Known as “the Amazon of Latin America," the company operates the region's largest e-commerce platform. Additionally, it boasts a robust fintech business that includes a credit card segment.

In 2024, MELI stock cracked the psychologically significant $2,000 per share mark before pulling back to end the year. This has kept analysts suggesting that the company may conduct a stock split. MercadoLibre has never split its stock, but it may do so if it feels it needs to make its share price more accessible. 

MELI stock has delivered a total return of over 74% in the last three years, and analysts are forecasting 32% earnings growth, which should provide plenty of fuel for the stock to move higher.  

Gold was one of the best-performing asset classes of 2024, and many analysts believe this is just the beginning of a multi-year run. However, gold isn’t the only metal poised to shine in the coming years—copper is also expected to play a significant role.

That makes Barrick Gold (NYSE: GOLD) one of the growth stocks to watch closely. The Canadian company is one of the largest global miners of gold and copper.  

Major miners like Barrick have the resources to develop large-scale, profitable projects. One such project is the Reko Diq copper and gold venture in Pakistan, a 50/50 joint venture in which the governments of Pakistan and the province of Balochistan own half the stake. When operations begin in 2028, Barrick estimates the project could generate $74 billion in free cash flow over the subsequent 37 years.

Mining stocks are notoriously cyclical, as Barrick’s historical stock price shows. However, analysts are forecasting earnings growth of over 30%, which is a bullish reason to own GOLD stock.  

Cameco Corp. (NYSE: CCJ) offers investors a chance to capitalize on a key emerging trend for the next decade: the resurgence of nuclear energy. As the world's leading provider of uranium, Cameco stands to benefit from the growing recognition of nuclear power’s role in meeting clean energy goals. With increasing demand from the current electric grid and the energy-intensive needs of artificial intelligence (AI), nuclear energy's reliability and stability are becoming even more appealing.

In addition to its current reserves, the company is well-positioned with exploration projects that will contribute to future growth. Among those strategic investments is a 49% stake in Westinghouse, a nuclear plant technology company.  

This strategic positioning supports positive cash flow, maintaining a strong balance sheet and enabling shareholder returns. Analysts project earnings growth of over 174%, with a consensus price target of $66.56, suggesting an 18% upside for the stock.

Fast-casual dining company CAVA Group Inc. (NYSE: CAVA) is leaning into an emerging trend that could cause its stock to outperform the S&P 500 in the coming years: growing consumer demand for healthy, fast-casual dining options that emphasize fresh, high-quality, and flavorful ingredients.

CAVA's Mediterranean-themed menu aligns perfectly with this trend, offering dishes like grain bowls, salads, and pita-based meals that emphasize vegetables, lean proteins, and Mediterranean flavors. CAVA competes with Sweetgreen Inc. (NYSE: SG) and Chipotle Mexican Grill Inc. (NYSE: CMG). 

The company’s appeal is evident in its strong same-store sales growth and impressive average unit volumes. CAVA is also pursuing a deliberate expansion strategy. By the end of 2024, it operated approximately 350 locations, with plans to grow to around 1,000—and possibly more.  

Since going public in 2023, CAVA has delivered a total return of 215%. Analysts are forecasting 22% earnings growth for CAVA in the next 12 months. They also give the stock a price target of $142.12, which offers investors a solid 15% growth. 

e.l.f. Beauty Inc. (NYSE: ELF) is a global cosmetics and skincare company that provides authentic and affordable products with low manufacturing costs, innovative marketing, and strong product innovation. The company's commitment to affordability and ethical business practices is a key reason why it’s attractive to the coveted Gen-Z demographic.  

e.l.f. may focus on beauty, but it had an ugly stock chart in 2024. The stock had a 125% swing between its 52-week and low. That’s reflected in the company’s short interest. It’s only about 10%, but the number of shares shorted has grown about three times in the last year. 

This price performance may be an example of the company’s stock getting ahead of its fundamentals. But that’s something that the company can grow into. Analysts believe that the company’s earnings will grow by 25%, and the consensus price target for ELF stock is $169.06, which is a 47% increase from the price in early 2025.