Stock Picks: Pricey but Promising
Five-star fund manager David Scott says a couple of stocks that are trading at the top of their range still deserve serious consideration by investors. One of the stocks is in oil services and the other, in cyber-security. Scott's Chase Growth Fund is up an average of 8.87 percent per year over the last five years.
Topping his list is Schlumberger. Isn't everybody who's going to get into this oil-services giant already there?
"We think at this point you should look at it as a growth company," he told CNBC. "Looking out over the next several years, regardless of where oil trades...this company, because of its world position...its strong balance sheet, tis broad array of products, will have a strong 20+ percent growth rate."
Scott agrees that Symantec is trading at its 52-week high.
"I think that speaks to the fact that the company's done very well in a fairly difficult environment," he said. "The market for anti-virus and maintenance software is strong, and will stay strong regardless of the economy."
Disclosure information for David Scott was not immediately available.