Dow to Close Around 13,000 This Year: Stock Picker

The overall market is in great shape and stocks should continue rising, said Neil Hennessy, portfolio manager and CIO of Hennessy Funds.

“I still see another 6 percent on the upside this year and we’ll close around 13,000 [on the Dow],” Hennessy told CNBC.

Hennessy said his favorite sector is the low-end retailers. (Scroll down for his full stock picks.)

“That’s where you’re seeing M&A activity,” he explained.

Hennessy’s Picks:

Family Dollar

Dollar Tree

Tractor Supply


Scorecard—What He Said:

  • Hennessy's Previous Appearance on CNBC (Dec. 29, 2010)


CNBC Data Pages:

CNBC Slideshows:


Hennessy owns shares of FDO, DLTR and TSCO via ownership of his mutual funds.