Leon Cooperman Reveals Top Stock Picks
Cooperman said they rotated out of Apple (AAPL) when it was in the 600’s into Qualcomm (QCOM), which trades at a mere 14 times earnings with a fortress balance sheet. Cooperman added that QCOM’s chips are ubiquitous in smartphones and it could grow 10% going forward while repurchasing $5 billion worth of stock.
Also in the smartphone space, Cooperman mentioned Motorola Solutions (MSI) as being an attractive investment.
Cooperman spoke of medium-sized European stocks Michelin (MGDDY), oil services company Technip (TKPPY), Swatch (SWGAF), and health care company Fresenius (FMS) as being reasonably valued.
Cooperman said a REIT paying 11%, Chimera Investment (CIM), could represent a turnaround situation.
Sandridge Energy (SD) was viewed favorably by Cooperman with an underlying business value of $10 per share, 50% higher than where it’s presently trading.
Back in January, Cooperman said stocks were not in a bubble, but bonds were [link].