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

COMMENT

Isn't much more upside from here. The S&P will top at 4,400-4,500. Doesn't see earnings rising to push stocks higher. We will be stuck and rangebound for a while. Stops are popping this week only because yields are falling and the market was wildly oversold.

Unknown
BUY
Palo Alto Networks

Fortinet's 16% plunge today is unique to Fortinet, not Palo Alto and other peers. Prefers Palo because it's more diversified than Fortinet and has a better cash flow yield.

0
BUY

Trades at 11x earnings, $1.6 billion free cash flow, 12% free cash flow yield and no debt! But guidance was weak. Bottoming of demand is not here, but further ahead. Is up modestly today.

electrical / electronic
PARTIAL SELL
Uber

Price target raised a lot today to $60 which makes her nervous. She trimmed around $45 and $47. Demand in dining and travel is softening but overall the stock is solid. She's doubled her money.

Technology
WEAK BUY
Walt Disney Co.

Remember, it's down only 1.5% for the year. It's trading at 15x the entire theme park as if nothing else there is worth anything. This is very oversold and feels like a bottom. There is decent earnings growth in 2024-5.

entertainment services
BUY

Just added shares to AMBP. They start to generate a lot of cash in 2024. Pays an 11% dividend. We're seeing stabiity in aluminum cans.

INDUSTRIAL PRODUCTS
BUY
Lamar Advertising

Reported a good quarter yesterday and shares are climbing 13%. Are undervalued.

REAL ESTATE
PARTIAL BUY
Whirlpool Corp

Bought this last May. A pandemic play that overcorrected after the pandemic as if the consumer was going to die. It didn't. It's down 20% recently on weak guidance. But she added shares today. Trades at 7x PE, pays a 7% dividend, makes $16 EPS to cover a $7 dividend, and their inventory is returning to normal a lot faster than they expected. Will buy more tranches if this declines more.

household goods
PARTIAL SELL

Trading at 19x PE, will have 24% earnings growth in 2024, then 17% growth in 2025 and are doing great cost-cutting. Is still a great business. Selling recently has been to rebalance portfolios and take some profits.

0
BUY ON WEAKNESS

The regional banks have been reporting decent earnings, because net-interest margins are great and high rates are another benefit. She will buy names like PNC.

Financial Services
PARTIAL SELL
XPO Logistics, Inc

Is up 105% this year. She took some profits in September. They're taking market share and trade at 8.5x EBITDA vs. Old Dominion's 18x. That's a huge gap they can close. UPS's struggles worry her, though they are slightly different companies. Is a little nervous ahead of earnings.

Transportation
BUY ON WEAKNESS

She'd buy at $125. They've had to deal with a lot including the strike and inflation. Margins are under pressure from Amazon, but $125/share is the safe pre-pandemic PE and collecting a 5% dividend? She can live with that.

Transportation
STRONG BUY
Intel

Popping 10% today on a strong report and forecast. It's bottomed. They are returning to growth. Very confident in the CEO. Loves that price targets rose today.

computer parts mnfctr
BUY

Disagrees with today's downgrade. BMY will produce $75 billion free cash flow over the next 5 years, which will transform them.

biotechnology / pharmaceutical
BUY
VF Corporation

Reports Monday and could surprise. Pays a 7% dividend.

Consumer Products
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