Brian Belski, fundamental market strategist at U.S. Bancorp Piper Jaffray in Minneapolis, recommends CMVT.
thestreet.com
A Guru Calls the Rally in Brokers -- and Sees Pain for the Dow
By Aaron L. Task
Senior Writer
12/18/00 7:24 PM ET
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Finally, Brian Belski, fundamental market strategist at U.S. Bancorp Piper Jaffray in Minneapolis, "continues to believe the stock market is drawing out a significant fundamental valuation bottom, especially in terms of technology and telecom stocks [and] that the current environment actually favors longer-term investors, especially those who want to employ a growth discipline."
But Belski concedes "the market lacks the confidence for an explosive rally ... that would likely be needed to pull itself out of the doldrums." Thus, he recommends a combination of technology/telecom stocks and "defensive growth" names for the next six to 12 months.
In the former category, he recommends Agilent Technologies (A:NYSE - news), ADC Telecommunication (ADCT:Nasdaq - news), Comverse Technology (CMVT:Nasdaq - news), Dell (DELL:Nasdaq - news), JDS Uniphase (JDSU:Nasdaq - news), Intel (INTC:Nasdaq - news), Level 3 Communications (LVLT:Nasdaq - news), OpenWave System (OPWV:Nasdaq - news), Siebel Systems (SEBL:Nasdaq - news), and Stratos Lightwave (STLW:Nasdaq - news).
In the latter, he likes Baxter International (BAX:NYSE - news), Biomet (BMET:Nasdaq - news), Conagra Foods (CAG:NYSE - news), Fannie Mae (FNM:NYSE - news), Medtronic (MDT:NYSE - news), Michael Foods (MIKL:Nasdaq - news), St. Jude Medical (STJ:NYSE - news), TCF Financial (TCB:NYSE - news), Target (TGT:NYSE - news) and UnitedHealth Group (UNH:NYSE - news).
U.S. Bancorp Piper Jaffray has done underwriting for OpenWave and Stratos Lightwave. |
