NEW YORK ( TheStreet) -- Are there quality growth stocks out there? TheStreet's Gregg Greenberg discusses a few of them with Edward Painvin, portfolio manager for the Chase Growth Fund.
Painvin's first pick is
(V - Get Report)
, which is up over 50% in the last year and, as Greenberg pointed out, is now trading at 22 times next year's earnings.
While it may seem expensive, Painvin notes that Visa controls 22% of the personal consumption market, and the move from cash and checks to plastic is only going to grow in the coming years.
(PCP - Get Report)
is another name his fund continues to like. The company makes parts for
787 Dreamliner and
Of the $200 million Dreamliner, about $10 million of that cost went to parts from Precision Castparts. Painvin says production is expected to increase to 10 planes per month by the end of the year, a significant boost from the current five to seven plane rate.
The fund also likes
, after its recent acquisition of
, which should help extends its specialty brands, especially among women.
Finally, one of his favorite picks is
Thermo Fisher Scientific
(TMO - Get Report)
, despite the 70% run in the past year. While it may seem extended, Painvin said the earnings and price momentum measurements remain favorable.
He also pointed out that Thermo Fisher should add $1 to its 2014 earnings per share figure with its focus on food safety, water treatment, and scientific development. These focuses are in long-term secular trends and should continue to reward shareholders down the road.
-- Written by Bret Kenwell in Petoskey, Mich.