What Investors Should Watch Next Week: Strategists
Peter Andersen, portfolio manager at Congress Asset Management Company, and Peter Costa, president of Empire Executions, shared their insights on where to invest in a low volume environment and what to watch next week.
Lowe’s —“[It’s] a nice play on the recovering homeowner and recently it disappointed in earnings and traded down 10 percent—that’s some good volatility to get into,” Andersen told CNBC.
“This might be a good entry to point. There’s still some room to run, compared to companies like Home Depot.”
He also likes Symantec
Ben Franklin Resources —“It’s a money management firm,” said Costa.
“They did fairly well in the financial crisis. They were well-positioned, and have good cash flow. Their P/E was a little high, but in the long-term, they’ll do very well. There’s a lot of room on the upside.”
“Also, there’s going to be some consolidation in the industry and the company will be the acquirer, not the acquiree,” he said.
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Andersen’s firm owns shares of Lowe’s.
Costa does not own shares of Franklin Resources and neither does his firm.