I’d buy this growth stock to get rich and retire early

first_img I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Royston Wild | Tuesday, 7th April, 2020 | More on: DPH Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Simply click below to discover how you can take advantage of this. I’d buy this growth stock to get rich and retire early Enter Your Email Address See all posts by Royston Wild Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge!center_img Image source: Getty Images. Investor sentiment has continued to pick up the pace during Tuesday afternoon business. The FTSE 100 was marching closer towards the late-5,000s and was up around 200 points from last night’s close.Market makers are taking signs of slowing Covid-19 infection rates in badly-hit areas as an opportunity to do some dip buying. There are some terrific bargains waiting to be snapped up following the rampant selling since late February.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…But investors shouldn’t get too giddy with high-risk or cyclical stocks. These remain unprecedented times, at least in modern history. The coronavirus outbreak could still deliver a sustained hammerblow to business worldwide.Animal magicIt pays to stay well stocked up on stocks with strong defensive characteristics, then. That means companies whose profits remain largely unaffected by any global or regional trouble.One such share I’d be happy to load up on today is Dechra Pharmaceuticals (LSE: DPH). Healthcare is one of the most popular havens in turbulent times like these. Our demand for medicines remains essential, irrespective of any social, economic, or political upheaval that might be going on in the background.And the same goes for our pets. It’s why consumer spending on our furry friends for health, nutrition, or recreation purposes continues to go from strength to strength. According to the boffins at Grand View Research, the global petcare market will have grown at a compound annual growth rate of 4.9% between 2016 and 2025. This suggests it will be worth a staggering $202.6bn by the middle of the decade.Farmyard favouriteBut Dechra doesn’t just provide treatments for so-called companion animals. It is also a major player in drugs supply for livestock, which boosts its defensive qualities still further. We all need to keep our stomachs full come what may. And pharma demand from farmers is likely to keep rising in line with rising meat consumption levels worldwide.The FTSE 250 pharmaceuticals giant has so far proved immune to the problems created by the coronavirus outbreak. In late February’s half-year report it commented that “we have no direct or indirect revenues in China and we have sufficient inventory of Chinese sourced materials to deal with near term supply.”Dechra did warn that an extended period of supply interruption would lead to it running out of materials. However, a sharp improvement in conditions in China suggests that the risk for the pharmaceuticals ace is receding. Lockdown measures are being eased across the country, and the Beijing government announced that yesterday was the first day of zero coronavirus-related deaths since January.A great way to retire richDon’t think of Dechra as just a safe play for turbulent times, though. Aggressive acquisition activity has lit a fire under its annual earnings growth in recent years. The purchase of worldwide rights to the Mirataz line of products for £35m last month provides more steel to its already impressive product portfolio, too.City analysts expect profits growth to slow to 3% in the fiscal year to June 2020. It’s expected to pick up to 20% in the following period, however. I’d happily buy this growth stock – even in spite of its high forward price-to-earnings ratio of around 25 times – to help me get rich and retire early. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Our 6 ‘Best Buys Now’ Shares “This Stock Could Be Like Buying Amazon in 1997”last_img read more