Our focus now is to target the best growth stocks we can find and carefully begin to reinvest our cash reserves in them in small incremental steps, explains Stephen Quickel; here, the editor of US Investment Report offers a thumbnail sketch of four of the latest additions to his Recommended List.

Biogen Idec (BIIB)

Based in Cambridge, MA, Biogen is approaching $10 billion in worldwide sales of therapies for neurodegenerative, hematologic, and auto-immune diseases.

After a three-year rise from 100 to 350, BIIB plunged to $275 last spring but has worked back to $343—with a target of $390-$400 on recently raised sales and earnings guidance.

LKQ Corp. (LKQ)

Shares of this Chicago supplier of car and truck replacement parts have been stuck in the $25-$30 range since January. Yet 11 of 13 analysts rate it a Strong Buy and the other two call it a Buy.

Attractions: 24% a year earnings growth with a 30% jump this year and bargain-basement PEG of 0.68 in an improving economy.

A.O. Smith Corp (AOS)

Like a yo-yo, shares of this highly regarded, long-established Milwaukee manufacturer of water heating equipment have jiggled between $47 to $51 as investors wavered about the rebound in housing activity. 

Now, with earnings growth of 26% a year in prospect, 14 of 16 analysts agree that AOS is a Strong Buy or Buy.

Union Pacific Corp (UNP)

With the US economy growing steadily stronger and with impressive improvements in profit margins, this western region rail carrier is chugging along at its high for the year just above $100.

A dependable, large-cap growth stock, Union Pacific could hit $120. It also pays a 2% dividend yield.

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