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Despite tech sell-off, BMO still loves ‘FANG’ stocks for reasonable valuations, strong growth

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The Netflix logo is seen on their office in Hollywood, Los Angeles, California, July 16, 2018.

Lucy Nicholson | Reuters

Rising interest rates and a burgeoning economic recovery have led investors to spurn tech stocks for value names, but BMO believes there’s upside ahead for the likes of Alphabet and Netflix.

“We Still Love FANG,” the firm said in a recent note to clients. “We think FANG is out of consensus and is positioned to outperform in 2021 as investors come for reasonable valuations, continued revenue growth ~20%, and plentiful FCF [free cash flow].”

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