Today’s featured stocks include two new additions to the portfolios and a stock that seems ready for a huge price rebound.
Cabot Undervalued Stocks Advisor 1217
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The Market is Moving!
As we wrap up 2017, now is not the time to rest on our laurels! The stock market is moving again, spurred on by sector rotation, bargain hunting and ongoing shenanigans in Congress. I know that most financial outlets and publications will embrace new ideas in January, but I begin planning for the new year in October so that I’m well-positioned for any foreseeable market and economic trends. In that light, I consider the December issue of Cabot Undervalued Stocks Advisor to be one of my more relevant issues.
I was all set to go to print yesterday morning, then head to an exercise class, when the market burst upward. As of 2 p.m. ET, literally half of our portfolio stocks had risen between 1.7% and 5.1% since the market opened. I was going to feature KeyBank (KEY) in the Growth & Income Portfolio today, but it took off without me, so I switched gears and introduced The Interpublic Group of Companies (IPG). Then some encouraging news popped up pertaining to Alexion Pharmaceuticals (ALXN), so I deleted my previous feature stock review from the Buy Low Opportunities Portfolio in order to let you know that now is the time to buy Alexion!
I was cringing when I looked up Alphabet’s (GOOGL) share price in the morning, hoping that I hadn’t missed the boat on that one too, but fortunately it pulled back a little further yesterday. Phew! I’ve had GOOGL on my radar for a while now, and was psyched at the recent pullback in tech stocks, which afforded an opportunity to add GOOGL to the Growth Portfolio. Don’t get all tweaked about the big share price—just buy it!
Meanwhile, continue to keep an eye on KEY, and add BB&T (BBT) to your watch list, because regional banks have splashed onto everybody’s windshields like bugs on a cross-country road trip. Buy on dips!
Energy News
In a November 30 meeting between OPEC and non-OPEC countries, current production cuts were extended nine months through year-end 2018, achieving the best-case scenario result vs. the various options under consideration. As a result, energy stocks surged late last week, and will likely continue rising in the near future. I anticipate additional capital gains throughout the sector in 2018, largely because there’s such an imbalance between strong earnings growth and low valuations. The best energy stock in our portfolios to buy today is Schlumberger (SLB).
Banking News
I was watching this Fox Business video, waiting for the guest’s comments on Chipotle (CMG), and instead heard a surprising amount of relevant commentary on banking and business deregulation. I encourage you to tune in to the relatively brief video, to get a sense of the panelists’ unanimity that relief from overregulation will be a boon to the economy.
There are many moving parts to banking deregulation, including potential changes to capital returns, leverage ratios, the Volcker Rule and regulatory expenses. Investors can expect ongoing and gradual increases to consensus earnings estimates for banks as the deregulation scenario plays out. More imminent, though, will be a boost to earnings estimates from tax reform—pushing regional bank stocks upward—which seems ready to wind its way to the President’s desk. One major Wall Street banking analyst is expecting an 18% average boost to current consensus EPS estimates—which is not yet reflected in Wall Street’s projection—if a 20% corporate tax rate is legislated by Congress.
Subprime Lending
The subprime consumer is not faring well, with ever-escalating rents, skyrocketing health insurance costs and lack of wage growth contributing to their financial problems. You would therefore do well to avoid stocks of financial institutions that issue loans and credit cards to subprime consumers.
I live in metro-Denver, where rents have risen so high that lots of people with decent jobs can’t find affordable apartments and houses to rent. And I’m not talking about poor people who theoretically qualify for government-subsidized housing. I’m talking about dental hygienists, single parents and just about anybody who earns less than $50,000 per year, because the first $20,000-$24,000 in after-tax income that they earn each year needs to be set aside for rent! Charles Schwab built a massive campus in recent years at my nearest highway exit. Every time I drive by, I wonder how 800-number phone clerks can afford to live in this area!
On the topic of health insurance costs, my daughters’ Dad just received notice from Kaiser that his health insurance premium will rise about 50% in 2018. Based on the cost of the premiums combined with the cost of the deductibles, he’d have to pay out $30,000 per year before insurance benefits kick in. Fortunately, he and my daughters rarely visit doctors. Sadly, his mandatory health insurance premiums go down a black hole.
Thus is the state of living expenses in America, so choose your financial stocks carefully.
Picking Up the Pieces After Tax-Loss Selling
When a group of stocks have seen their share prices decline, some of those stocks will represent fantastic companies, as measured by earnings growth and valuation. It makes sense that the stocks of fantastic companies will rebound sooner and faster than the stocks of lesser quality companies and problematic companies. Therefore, while many depressed stocks are suffering today, in the midst of tax-loss selling season, some of them will no longer have a reason to suffer come January. Everybody who was going to sell for a tax loss will have already sold. With all the bears out of the equation, there are only two types of investors remaining: investors who ignore these stocks, and investors who buy these stocks. The buying activity will push the share prices upward.
If you’d like to take advantage of a great company with a depressed share price, the portfolio stock that I’d buy this month that seems to offer the most obvious and unencumbered rebound potential in 2018 is Alexion Pharmaceuticals (ALXN).
Are you looking for additional year-end bargains among the victims of tax-loss selling? Here are five good choices that meet my growth and value criteria: AXIS Capital Holdings (AXS) sells property & casualty insurance and reinsurance, BioTelemetry (BEAT) provides healthcare services, Flowserve (FLS) manufactures flow control systems, Interpublic Group (IPG) (which joined the Growth & Income Portfolio today) provides advertising and marketing services and Pioneer Natural Resources (PXD) is an energy exploration and production company.
Portfolio Notes
Make sure to review my December 4 Special Bulletin in which I mentioned news, rating changes and/or price action on KLX (KLXI), Legg Mason (LM), Morgan Stanley (MS), Quanta Services (PWR) and Southwest Airlines (LUV).
Send questions and comments to crista@cabotwealth.com.
Buy-Rated Stocks Most Likely* To Rise More Than 5% Near-Term:
Commercial Metals (CMC)
KLX (KLXI)
Martin Marietta Materials (MLM)
Quanta Services (PWR)
Vulcan Materials (VMC)
*I can review price charts and make an educated determination about what’s likely to occur, but I will sometimes be wrong. I cannot control the stock market; I can only guide you through it.
Today’s Portfolio Changes:
Alexion Pharmaceuticals (ALXN) moves from Buy to Strong Buy.
Alphabet (GOOGL) joins the Growth Portfolio as a Strong Buy.
Interpublic Group (IPG) joins the Growth & Income Portfolio as a Strong Buy.
KLX (KLXI) moves from Buy to Strong Buy.
Last Week’s Portfolio Changes:
Legg Mason (LM) moved from Strong Buy to Hold.
Morgan Stanley (MS) moved from Strong Buy to Hold.
Southwest Airlines (LUV) joined the Growth Portfolio as a Strong Buy, then moved to Hold.
Growth Portfolio
Growth Portfolio stocks have bullish charts, strong projected earnings growth, little or no dividends, low-to-moderate P/Es (price/earnings ratios) and low-to-moderate debt levels.
Featured Stock: Alphabet (GOOGL)
Back in January 2011, one of my family’s brokerage accounts contained a very small amount of cash, so I decided to buy one share of Google when the price was 621. Then in 2014, the stock split two-for-one, which gave me one each of Google Class A (GOOGL) and Class C (GOOG) shares; followed by a corporate name change to Alphabet in 2015. My two shares are now worth $2,035, representing a 228% capital gain, or approximately a 19% per year compounded annual growth rate.
Alphabet is the world’s largest internet company. The Cabot Undervalued Stocks Advisor portfolios have been underweight technology stocks recently. Since the sector is having a pullback, this seems an opportune time to buy Alphabet.
The company is expected to surpass $100 billion in 2017 revenue. 85% of Alphabet’s revenue comes from Google’s online ads, with the balance coming from the sale of apps, digital content, services, licensing and hardware. Alphabet additionally invests in innovative technologies, smart homes, self-driving cars and more.
Whereas some companies’ consensus earnings estimates change almost weekly, Alphabet’s earnings estimates do not vary much until after Alphabet’s quarterly earnings reports, when analysts naturally refigure all their projections. Curiously, stock research sources usually quote GAAP earnings per share (EPS) numbers on GOOGL, rather than the much more common non-GAAP numbers. However, if you’re researching the stock, make sure you’re comparing apples to apples, because I found at least one website that’s quoting a mixture of both GAAP and non-GAAP numbers, which can be both confusing and misleading. In that light, here are the exact GAAP EPS numbers that I found, still differing by a few pennies via two different research sources. (If you want to avoid staring at numbers, the gist of my research is that profits are growing aggressively and the stock is undervalued.)
Alphabet reported $27.88 per Class A share in 2016, and is expected to report $32.31 in 2017, $41.52 in 2018 and $49.39 in 2019 (December year-end). EPS growth rates are therefore expected to be 15.9%, 28.4% and 19.0% in 2017 through 2019. The interesting thing about these estimates is that analysts usually lowball 2019 numbers, yet despite caution, they’re projecting 19% earnings growth in 2019. I consider that aggressive growth estimate to be both surprising and encouraging.
The 2018 price/earnings ratio (P/E) is 24.7, which is not a small number, but it’s certainly below the earnings growth rate. In the case of a popular technology stock, I like buying under these circumstances, because price action very often pushes tech stocks into overvalued territory down the road. And that equals CAPITAL GAIN$.
Alphabet has a tiny amount of long-term debt on its balance sheet, which it could repay in a heartbeat because the company has roughly $100 billion in cash and current assets. More than half of those liquid assets sit overseas, possibly subject to taxable repatriation in 2018. Since the company’s not paying a dividend to shareholders, and the repurchase program was last enhanced by $7.0 billion in October 2016, I think it’s fair to assume that the company might decide to return additional cash to shareholders in the coming year.
GOOGL rose in early 2017, then plateaued for six months, trading between 920 and 1005. The stock broke past upside resistance in late October, rising to a new intraday all-time high of 1073 in November, then came back down toward price support with the recent sell-off among tech stocks. This is a wonderful time to snap up GOOGL shares, while the stock’s having a pullback within a bullish chart pattern. Strong Buy.
Updates on Growth Portfolio Stocks
Apple (AAPL – yield 1.5%) manufactures a wide range of popular communication and music devices. On December 2, Forbes published a quick synopsis of the latest Apple product innovations, problems and lawsuits. The company is expected to grow EPS by 24.2% in fiscal 2018 (September year-end), and the P/E is 15.0, presenting an attractive growth and value scenario. The company is not currently expected to experience strong earnings growth in 2019, and I therefore expect to sell the stock by June 2018, when institutional investors will be shifting their attention to Apple’s next fiscal year. Tech stocks suffered last week. AAPL pulled back within its recent trading range, between 167 and 176. Strong Buy.
Bank of America (BAC – yield 1.7%) is expected to achieve aggressive earnings growth in 2018, and the stock is undervalued. Most bank stocks launched upward in recent days, now that Congress appears ready to take action on income tax rates. I expect additional capital gains from BAC in 2018. Strong Buy.
KLX Inc. (KLXI) is an extremely undervalued, small-cap aggressive growth stock in the aerospace and energy services industries. The company will report third-quarter results on the morning of December 6 (January year-end). The consensus EPS estimate is $0.78, with a range of $0.75 to $0.81.
I had moved KLX from Strong Buy to Buy on October 24, when the stock appeared ready to rest for a while after a nice run-up. Now that KLXI appears imminently capable of rising past 56 to new highs, I’m moving the stock back to Strong Buy. Buy KLXI now. Strong Buy.
Martin Marietta Materials (MLM – yield 0.9%) is a supplier of crushed stone, sand, gravel, cement, concrete and asphalt. MLM is an undervalued mid-cap stock, expected to achieve aggressive earnings growth in 2018. There’s 14% upside as MLM retraces its May 2017 peak at 240, where the stock will still be undervalued. Buy MLM now. Strong Buy.
Quanta Services (PWR) provides specialized infrastructure and network services to the electric power, oil and natural gas industries. PWR is a very undervalued aggressive growth stock. PWR rose above long-term price resistance yesterday. I therefore expect immediate additional capital gains, and for the stock to perform well in 2018. Buy PWR now, and buy more on pullbacks. Strong Buy.
Southwest Airlines (LUV – yield 0.8%) is an undervalued growth stock. Analysts expect to see 25% EPS growth in 2018. The P/E is currently 13.5. The stock quickly rose to upside price resistance near 64 after joining the Growth Portfolio last week. I expect LUV to rest a bit before surpassing 64. Hold.
Vertex Pharmaceuticals (VRTX) is an aggressive growth biotech company that corners the market in treatments for cystic fibrosis (CF). In a 44-page analysis of global pharmaceutical stocks, published last week by a major investment bank, Vertex is projected to see operating margins rapidly rise from 17.4% in 2016 to 52.4% in 2020. Rapid annual declines in SG&A and R&D expenses are contributing to the escalating profitability.
Now that the share price has receded, VRTX is a bit undervalued. However, the price chart still looks weak. When an obvious near-term capital gain opportunity presents itself, I’ll let you know. Hold.
Vulcan Materials (VMC – yield 0.8%) is a supplier of construction aggregates, asphalt and concrete. Vulcan is expected to achieve aggressive earnings growth in 2018. VMC has upside price resistance at 134, where it will still be undervalued. Buy.
XL Group (XL – yield 2.3%) is an insurer and reinsurer, and an undervalued mid-cap stock. XL has price support at 38, and could rise as high as 47 in the coming months before pulling back again. Buy.
Growth & Income Portfolio
Growth & Income Portfolio stocks have bullish charts, good projected earnings growth, dividends of 1.5% and higher, low-to-moderate P/Es (price/earnings ratios), and low-to-moderate debt levels.
Featured Stock: The Interpublic Group of Companies (IPG – yield 3.5%)
Interpublic Group is a large conglomerate of advertising, marketing, communications and public relations companies serving all global markets. The company is based in New York City, with offices in 100 countries. Global advertising expenditures are projected to grow 4.0% and 4.1% in 2017 and 2018, led by demand in the U.S. and China. Those growth rates were tweaked downward in recent months, yet still reflect robust economic growth. The U.S. market makes up 60% of Interpublic’s geographic revenue mix.
Interpublic is expected to achieve about $7.8 billion in 2017 revenue, which is relatively flat vs. a year ago. CFRA (formerly Standard & Poor’s research) is projecting 4.5% revenue growth and higher gross margins for the company in 2018.
IPG is a slightly undervalued growth & income stock with an attractive rising annual dividend. Analysts are current expecting Interpublic’s earnings per share (EPS) to increase 10.6% in 2018. The price/earnings ratio (P/E) is 13.1, and the debt ratio is quite fair at 29%.
The company has a history of announcing a dividend increase each year in early February. Another three-cent increase would bring the quarterly payout up from $0.18 to $0.21, and would raise the current yield from 3.5% to 4.1%. During the first nine months of 2017, Interpublic repurchased 9.4 million shares of stock for a total expenditure of $216 million.
Interestingly, the company has an $8 billion market-cap, and nearly all the shares are held by institutions. That’s a small market cap for such a popular stock, insinuating that larger media conglomerates might perceive Interpublic to be an attractive takeover target.
IPG rose to an all-time high of 25.25 in July, then fell precipitously as full-year 2017 revenue and profit estimates were lowered to reflect very modest growth. At this point, the stock appears to have begun its rebound. There’s 23% capital gain potential as IPG wanders back to its July high. At that point, I would expect the stock to get stuck. But for now, there’s lots of room to make money. Strong Buy.
Updates on Growth & Income Portfolio Stocks
BP plc (BP – yield 5.9%) is a European integrated oil company and a very undervalued aggressive growth stock. Earnings estimates continue to rise almost every week since late September. The company is now expected to see EPS grow 113% and 35.8% in 2017 and 2018. The 2016 P/E is low in comparison at 16.4. I expect BP to reach 42 in the coming months, where it last traded in 2014. It’s reasonable to expect the stock to stop advancing at 42 because there are people who bought BP at that price in 2014 and they’ve been waiting over three years to break even. Some of them will sell, putting pressure on the share price for a while. Hold.
Blackstone Group LP (BX – yield 7.3*) is an alternative asset manager, and a very undervalued growth & income stock. In the coming three to 12 months, I expect BX to ratchet toward 37, where it last traded in early 2015, giving new investors a potential 16% capital gain. Buy BX now, while it’s very low within its trading range. Strong Buy.
*The payout varies each quarter, with the total of the last four announced payouts yielding 7.3%.
Commercial Metals Company (CMC – yield 2.4%) is a recycler and manufacturer of steel and metal products, including rebar and fence posts. CMC is a very undervalued aggressive growth stock. The stock is rising toward price resistance at 22, with additional resistance at 24, where it last traded in December 2016. CMC offers new investors a potential 20% capital gain. Strong Buy.
GameStop (GME – yield 8.1%) is a retailer of games, collectibles and technology, with additional ventures in the entertainment field. The share price could reach 21 this month. Buy.
Johnson Controls (JCI – yield 2.7%) is a multi-industry, large-cap growth & income stock. The company is expected to see EPS grow 7.7%, 11.1% and 12.5% in fiscal 2018 through 2020 (September year-end). The stock is overvalued based on 2018 EPS, yet undervalued based on subsequent years’ numbers. I will likely sell near price resistance at 40 in the coming months. Hold.
Morgan Stanley (MS – yield 1.9%) is a major U.S. investment bank and wealth manager, and an undervalued growth & income stock. Most bank stocks launched upward last week, now that Congress appears ready to take action on income tax rates. MS began another run-up last week. I expect MS to rise toward my fair-value price target of 58 during the next two to six months. Hold.
Schlumberger (SLB – yield 3.0%) is a premier oilfield equipment and services company with a global footprint. SLB is an undervalued, large-cap aggressive growth stock. The stock is volatile, and currently rising. There’s 31% upside plus dividends as SLB eventually retraces its December 2016 high near 86. Strong Buy.
WestRock (WRK – yield 2.7%) is a major player in the global packaging and container industry. On December 8, investors may access WestRock’s Investor Day presentations via the company website. WRK is an undervalued, mid-cap growth & income stock. WRK shot upward to new all-time highs in recent days. I expect additional capital gains in 2018. Strong Buy.
Weyerhaeuser (WY – yield 3.5%) operates in the areas of timberland, wood products, real estate, energy and natural resources. WY rose to new all-time highs in November, and the price chart remains bullish. I’m going to let it run, with the goal of selling soon if the 2018 earnings estimates don’t increase. Hold.
Buy Low Opportunities Portfolio
Buy Low Opportunities Portfolio stocks have neutral charts, strong projected earnings growth, low-to-moderate price/earnings ratios (P/Es) and low-to-moderate debt levels. (Dividends are not a portfolio requirement, but some of the stocks will have dividends.) Investors should be willing to wait patiently for these stocks to climb.
Sometimes a stock in the Buy Low Opportunities Portfolio produces good capital gains and the share price is no longer low, yet the stock remains an attractive investment. Those stocks will then be moved into the Growth Portfolio or the Growth & Income Portfolio.
Featured Stock: Alexion Pharmaceuticals (ALXN)
Alexion Pharmaceuticals is a biopharmaceutical company that researches and manufactures treatments of severe and rare health disorders. Yesterday, Ra Pharmaceuticals presented Phase II data for RA101495, a potential competitor to Alexion’s blockbuster product Soliris, a medication used to treat paroxysmal nocturnal hemoglobinuria (PNH) and atypical hemolytic uremic syndrome (aHUS). The press release on the Phase II results gives a rosy impression, but the biotech analyst at a major investment firm commented that RA101495 “has inferior efficacy, limiting its competitive threat to Soliris.” Approximately half the patients in the trial switched back to Soliris when their health situations destabilized.
The stock market continues to express caution over developments at Amgen and Roche/Chugai that could also compete with Soliris, but this week’s news reinforces that Soliris sets a high bar that’s not easily surpassable.
Alexion will present at the Citi 2017 Global Healthcare Conference on December 7.
In a 44-page analysis of global pharmaceutical stocks, published last week by a major investment bank, Alexion’s operating margins are projected to gradually rise from 43.1% in 2016 to 50.6% in 2020, aided by declining SG&A and R&D expenses.
Profits are growing aggressively and the stock is undervalued. The consensus opinion among 21 Wall Street analysts is that Alexion’s earnings per share (EPS) will grow 22.1% in 2017 and 25.5% in 2018, with continued aggressive growth thereafter (December year-end). The 2018 price/earnings ratio (P/E) is just 15.3, and the debt ratio is a relatively low 25%. Not only do those numbers present an incredible growth and value scenario, but they’re almost guaranteed to instigate a significant share price rebound.
Of course, nothing is guaranteed in the stock market. Under rational circumstances, I would expect professional investors to jump all over this opportunity, which could also generate the interest of larger pharmaceutical companies that want to jump-start their slow earnings growth via a corporate buyout.
ALXN is a volatile stock. The 2017 drop in the share price has been significant, which in turn presents investors with a 44% capital gain opportunity as the stock rebounds to its April 2016 high at 160. We’re just weeks away from the close of tax-loss selling season. I’m therefore moving ALXN from Buy to Strong Buy because the risk-reward equation is now heavily stacked in the direction of near-term capital gains. Buy ALXN now. Strong Buy.
Updates on Buy Low Opportunities Portfolio Stocks
Boise Cascade (BCC – yield 0.7%) is one of the largest producers of engineered wood products (EWP) and plywood in North America and a leading U.S. wholesale distributor of building products. In November, Boise Cascade announced that it will begin paying a quarterly dividend of $0.07 per share. BCC is a small-cap growth stock. The stock is rising toward 43, where it previously reached an all-time high in February 2015. Hold.
Chipotle Mexican Grill (CMG) is an undervalued aggressive growth restaurant chain. Last week, Chipotle founder and CEO Steve Ells stepped down from his position, and a search is underway for a new CEO. Mr. Ells will assume the position of Executive Chairman. The market reacted well to the change in leadership, and we’ve probably seen the worst for the share price for the time being. (If a new CEO takes control and sales don’t perk up, that would be very bad news for the stock. However, that potential result remains many months down the road.)
Wall Street expects EPS to grow from $0.77 in 2016 to $6.67 in 2017 to $9.36 in 2018, representing 40.3% 2018 earnings growth. The 2018 P/E is 32.9. The share price won’t likely rebound past 330 until tax loss selling season is over. As long as the profit outlook and valuation remain attractive, I will hold the stock for the prospect of future capital gains. Hold.
Delek US Holdings (DK – yield 1.8%) is a diversified downstream energy company, with businesses that include petroleum refining, transportation, marketing, renewables (producing biodiesel fuel) and asphalt operations. DK is an undervalued, aggressive growth small-cap stock.
DK emerged from a year-long trading range in early November and quickly rose to two-year price resistance at 32. Normally, I’d expect such a stock to pull back, but the momentum indicates that DK could surprise us and rise all the way to 38 before establishing a new trading range. (Incidentally, Raymond James raised its target price to 38 last week.) Be prepared for either scenario in the coming weeks. Strong Buy.
Legg Mason (LM – yield 2.7%) is a U.S.-based global asset management and financial services company. Earnings estimates have been rising since mid-October. Wall Street expects earnings per share (EPS) to grow 28.8% and 14.5% in 2018 and 2019 (March year-end). The corresponding price/earnings ratios (P/Es) are low in comparison at 14.2 and 12.4, and even more attractive when you factor in the attractive dividend yield.
Despite the great growth and value scenario, I plan to sell LM near 44, where it last traded in October 2015, thus making room for a new stock in the portfolio. (Read more in the December 4 Special Bulletin.) Hold.
Mattel (MAT) – Analysts continue to ponder a potential merger between Hasbro (HAS) and Mattel, but there have been no conducive statements coming from company representatives. The stock is way down for the year. A takeover offer could push the share price above 25. My suggestion is that investors hold MAT, for either a takeover offer or a corporate and share price rebound in 2018. Hold.
Nucor (NUE – yield 2.5%) is a low-cost producer of a diversified portfolio of iron and steel products, and an undervalued mid-cap growth stock. Nucor announced a tiny quarterly dividend increase on December 1, from $0.377 to $0.38. NUE is rising within a wide trading range. There’s about 10% upside as NUE retraces its December 2016 high of 65. Strong Buy.
Total (TOT – approx. 3.9%) This French integrated oil & gas stock is fairly valued based on 2018 numbers, which improved again last week. The price chart is looking quite bullish for a near-term run-up into the low 60s, where TOT last traded in July 2014, and where I intend to sell due to a less attractive growth & value scenario. Hold.
Universal Electronics (UEIC) is a manufacturer and cutting-edge world leader of wireless remote control products, software and audio-video accessories for the smart home, with a strong pipeline of new products. UEIC is an undervalued micro-cap stock, forecasted to achieve aggressive 2018 EPS growth. There’s 39% upside as UEIC retraces its July high around 72, where the stock will still be undervalued. Expect volatility. Risk-tolerant investors should buy now, and cautious investors should wait until January to consider the stock. Strong Buy.
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Send questions or comments to crista@cabotwealth.com.
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YOUR NEXT CABOT UNDERVALUED STOCKS ADVISOR ISSUE IS SCHEDULED FOR January 2, 2018
Cabot Undervalued Stocks Advisor is published by Cabot Wealth Network, an independent publisher of investment advice. Neither Cabot Wealth Network nor its employees are compensated in any way by the companies whose stocks we recommend. Sources of information are believed to be reliable, but they are in no way guaranteed to be complete or without error. Recommendations, opinions or suggestions are given with the understanding that subscribers acting on information assume all risks involved. Copyright © 2017 - COPYING AND/OR ELECTRONIC TRANSMISSION OF THIS NEWSLETTER IS A VIOLATION OF THE U.S. COPYRIGHT LAW. For the protection of our subscribers, if copyright laws are violated by any subscriber, the subscription will be terminated.
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