Analyst Names Electric Cable Stock Picks
Electric cable stocks currently seem to be strong, Stifel Nicolaus analyst Jeff Beach told “Power Lunch” viewers.
Beach’s two favorite stocks are General Cable and Quanta Services.
"I look at strong infrastructure spending trends and then try to find the leading companies in the trends,” said Beach. He was recently named as the No.1 electronic and electrical equipment analyst by The Wall Street Journal's “Best on the Street” survey.
General Cable is the largest producer of electric transmission and distribution cables, and is expanding heavily in Europe and Asia. Quanta Services is the largest North American company that designs and builds transmission projects.
“I like strong managements, but I’m talking about some of the strongest spending trends in North America and globally,” he added.