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2 No-Brainer Stocks to Buy in August

Stock Markets Aug 03, 2021 03:30PM ET
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© Reuters. 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.

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2 No-Brainer Stocks to Buy in August
 

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