2 No-Brainer Stocks to Buy in August
StockNews
Published Aug 03, 2021 02:25PM ET
Updated Aug 03, 2021 03:30PM ET
2 No-Brainer Stocks to Buy in August
Despite the resurgence of COVID-19 cases due to the spread of the Delta variant, the stock market has remained steady on the back of solid earnings results. And even though many analysts expect the stock market to witness a correction on concerns over a potential slowdown in the economic recovery, we think it could be wise to bet on quality stocks SS&C Technologies (SSNC) and Preformed Line Products (PLPC) because they both possess a solid combination of value, stability, and momentum features. So, let’s take a closer look at these names.The resurgence of COVID-19 cases due to the rapid spread of the highly contagious Delta variant has been worrying investors regarding the potential for it to slow down the economic recovery. In addition, the consumer price index increased 5.4% in June, and the International Monetary Fund (IMF) warned that inflation could be persistent.
However, Goldman Sachs (NYSE:GS) equity strategist David Kostin said recently that “the new strain should not pose a major market risk.” The major stock market indexes continue to be supported by strong corporate earnings. In fact, more S&P 500 companies have beaten EPS estimates for the second quarter than the historical average. Also, the U.S. GDP came in at 6.5% in the second quarter, fueled by massive government aid and increased spending on services.
So, we think it could be wise to bet on fundamentally strong stocks SS&C Technologies Holdings, Inc. (SSNC) and Preformed Line Products Company (PLPC). In addition to overall A ratings in our POWR Ratings system, these stocks possess a solid combination of value, stability, and momentum attributes.
Continue reading on StockNews
Get The News You Want
Written By: StockNews
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.