Stock picking will be needed this summer as breadth narrows and the market has already priced in much of the economic recovery, according to research firm Cornerstone Macro.
"We continue to expect a constructive market environment, driven by rising earnings expectations and rangebound valuations," Michael Kantrowitz, chief investment strategist at Cornerstone Macro, said in a recent report. "As the market and economic recovery continue to evolve, investors are likely to become more selective."
Cornerstone Macro identified stocks that it believes will outperform the market from here. Companies on the firm's list are growing earnings more than expected, and their shares are relatively cheap based on the amount of cash they're making. These firms are also highly productive, doing the most work for the lowest cost, as concerns about inflation persist. The researcher picked shares that have proven successful even when the overall market remains choppy
Take a look at five of Cornerstone Macro's summer stock picks:
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May 29, 2021 at 07:23PM
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Here are 5 stock picks for the summer as the market gets tricky - CNBC
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