If you spot a stock that has risen impressively, you may think, "What a shame I missed out".
But investors must remember that shares have no memory. It doesn't care that it has already rocketed up — if the underlying business is going gangbusters then the stock price can continue its journey.
So with this in mind, one expert named two ASX shares this week that he would buy, despite both showing impressive gains in recent times:
'Well placed to deliver strong growth'
Winemaker Treasury Wine Estates Ltd (ASX: TWE) has defied the market for its shares to be trading 12.2% higher than where it started the year.
In fact, it has rocketed more than 30% since mid-June.
Despite this, Shaw and Partners senior investment advisor Jed Richards would still buy it up right now.
"The global wine giant posted impressive fiscal year 2022 results," Richards told The Bull.
"Net profit after tax and earnings per share were both up 4% on the prior corresponding period."
Richards' team has a high opinion of Treasury Wine's management team.
"Trading at a material discount to our valuation and other luxury brand owners, Treasury Wine is well placed to deliver strong growth during the next few years, in our view."
Other professionals largely agree with Richards. According to CMC Markets, six out of eight analysts that cover the stock currently rate Treasury as a buy.
The stock for 'uncertain times'
Gold prices and gold mining stocks have all risen in recent weeks after a surprisingly stagnant year.
"Gold has historically been an inflation hedge and store of value," said Richards.
"But even with inflation at multi-decade highs, the gold price has fallen this year."
But with demand for the precious metal picking up just now, Newcrest Mining Ltd (ASX: NCM) shares have rocketed more than 34% since its September low.
"Newcrest has rallied from its lows recently on the latest US inflation figures, which were lower than expected, leading to a weaker US dollar," said Richards.
"Gold does have a place in portfolios in uncertain times."
His peers are somewhat divided on Newcrest.
Ten of the 17 analysts surveyed on CMC Markets currently reckon the stock is a strong buy. But the other seven rate it as a hold.
