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Current DateTime: 07:35:20 16 Nov 2009
LinksList Documentid: 30328029

CNBC Stock Blog

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Aug.12
10:35 AM ET
Tuesday, 12 Aug 2008
Stock Picks: Cigarettes & Cheap Food
Posted By:CNBC.com

Where are the market leaders now? Eugene Peroni of Advisors Asset Management and Peter Andersen of Congress Asset Management gave CNBC their insights -- and a few favorite stocks.

Peroni sees "no fresh new leadership" in terms of sectors.

"Very near-term, health care might be a little bit overbought, but on weakness it still represents a good longer-term buy," he said. He cautions that "we're not out of the bear market just yet," calling for one more low in financials -- then smooth sailing after that, for the remainder of the year.

Andersen said his firm is playing it safe and remains "somewhat defensive."

Recommendations:

Andersen believes there is still "some wind left in the sails" of consumer staples.

Kraft Foods [KFT  Loading...      ()   ] and Philip Morris International [PM  Loading...      ()   ] (spun off from Altra [MO  Loading...      ()   ] earlier this year)  "still have a lot of good features that still have some staying power," he declared. Another food stock he favors as an inflation play: Ralcorp Holdings [RAH  Loading...      ()   ], which provides lower-priced store brands as alternatives to national "name brands."

Peroni likes infrastructure plays, particularly water stocks and defense contractors.

(Click for Water Stock Picks)

Disclosures:

Disclosure information was not avaliable for Peroni, Andersen or for their companies.

Disclaimer

© 2009 CNBC.com

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