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More Upside Room for Energy and Industrials: Stock Picker

Energy and industrials have been the top performing sectors this quarter, but Craig Callahan, founder and president of ICON Advisers, said he sees further upside for both groups going forward.

“We like the large-cap integrated oil and gas companies,” Callahan told CNBC.

“We’ve been on a tremendous rally over the last two years, and the leadership has been in anything that’s economically sensitive or cyclical—and energy and industrials are a part of that.”

Callahan’s top energy picks are ExxonMobil and ConocoPhillips .

In addition, his best industrial plays include Caterpillar and CSX .

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CNBC Investor Spring Cleaning - See Complete Coverage

“We like the railroads, industrial machinery, and farm equipments—they are all good bargains still,” he said of the industrials.

“They aren’t priced anywhere near market peaks yet.”

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Scorecard—What He Said:

  • Callahan's Previous Appearance on CNBC (Dec. 7, 2010)

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More Market Intelligence:

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CNBC Data Pages:

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CNBC Slideshows—FYI:

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Disclosures:

No immediate information was available for Callahan or his firm.

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Disclaimer

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CAT
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COP
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CSGN
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XOM
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