Bargain Stocks: Nokia, Spectra, Incitex Pivot

Shares of leading mobile handset maker Nokia have fallen nearly 40 percent so far this year, producing a great buying opportunity for a still-growing tech company. And the commodities boom means agriculture and energy are also still good places to invest, according to strategist Wouter Weijand.

While Nokia's sales growth in the West has declined, Nokia still has an increasing demand for mobile phones from emerging markets like China and India, Weijand, chief investment officer of high income equity at Fortis Investments, told "Worldwide Exchange."

"(Nokia is) trading like a value stock but still offering longer-term growth. It is a great franchise and they have no debt at all on their balance sheet," he said.

Australian fertilizer distributor Incitex Pivot is also a buying opportunity, Weijand said.

"In this boom for soft commodities and tightening demands for grain, demand for fertilizer is fantastic and they enjoy an enormous part of that boom thanks to their cost advantage," he said.

The company also owns its own phosphate mines in Australia, unlike many other fertilizer distributors, and can manufacture as needed, Weijand added.

Rounding out the "buy" list in U.S.-based Spectra Energy .

"Spectra is a spinoff of Duke Energy and Duke Energy is one of those dividend champions. They paid dividends of the last 81 years," he said.

The company distributes, transports and stores natural gas throughout the U.S. as well as Canada.

"It's a very stable sort of pipeline business, very steady energy production," Weijand said.

"Earnings have grown amazingly and I think the market has not fully appreciated the extent of the earnings potential and stability of this company."