Latest Top Picks

Stock Opinions by Jenny Harrington, CEO, Gilman Hill Asset Management

DON'T BUY
NVIDIA Corporation
The current boom in AI stocks

It's very frustrating, because we're backtracking to the bad days with the huge divergence between tech and everything else. She's scared by crowded trades. If you're comfortable owning Nvidia at 50x PE, then you're also comfortable with Zoom, Tesla, Teladoc, etc. She is not this kind of portfolio manager. She watches valuations and looks long term.

computer software / processing
BUY
Walt Disney Co.

Their cost cuts by $3 billion will drive earnings will 30%. By 2025, this will be a $140 stock, 20x PE, she projects. DIS is worth waiting for.

entertainment services
COMMENT
Paramount Global

She bought this in 2020 at $16. The content alone makes this worth $15.

communications / media
BUY
American Express
Upgraded today

They had a great quarter and is now trading at an historic low of 12x. A high proportion of their sales comes from travel/leisure which is strong.

investment companies / funds
BUY
Advance Auto Parts

It reports next week. Trades at 13x vs. peers like Autozone at 20x. This will be fine.

Automotive
BUY
Rio Tinto
Upgraded today

It's trading as if iron ore were at $60, so the stock is overly discounted. Pays a huge 7.2% dividend, which pays you a lot alone. Upside is ahead.

other mines
BUY ON WEAKNESS

Shares are down, because people misunderstand this during the debt ceiling debate. Pays an 8% yield and enjoys high barriers to entry. It's an opportunity now.

REAL ESTATE
COMMENT

Feels okay about the market. The market endured a scary event (the regional bank crisis), and expects a 25-point hike this week, and earnings were better than expected. But: What's the right market multiple? 18x means only 4,350 on the S&P.

Unknown
BUY

She owns it only for the dividend, and doesn't need the stock to grow

oil / gas
HOLD

Her time horizon is long, as much as 10 years.. Copper prices may be weak now, but EVs will continue to drive demand. Also, after 2023, there are almost no copper mines coming online. She's happy to hold this for 5 years.

non-base metal mining
BUY
Seagate Technology

Memory chips are bottoming now and management just stood behind its 4.8% dividend yield.

computer software / processing
DON'T BUY
Microsoft Corp

The problem with MSFT is that it trades at 27x 2024 earnings. Therefore, they need earnings growth in Azure and every business to support such a big multiple. She was wrong; she missed it.

computer software / processing
COMMENT
Alphabet Inc

How can they sustain their huge market share? AI's riskiness threatens to corrode their market share.

Technology
PARTIAL SELL
Meta reports late today.

She trimmed twice recently. A lot of the upside has already been priced in, since last October's bottom. That said, she thinks they've learned their lesson about spending so much on the metaverse, and they are actively cutting costs instead. 

0
COMMENT
Walt Disney Co.
Disney sues Florida

What will be the impact? Legal bills will go up, but may not have a serious impact on earnings. Disney has no choice but to sue the Florida governor.

entertainment services
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