3 Stocks to Buy on the Bounce
What stocks to buy now that the major indexes are bouncing back? The best options out there with the least amount of risk are General Electric (NYSE:GE), Bank of America (NYSE:BAC), and Sony Corp (NYSE:SNE).
Sony (SNE) shares got hit hard early in the week losing $2 and getting down to $18. Its an opportune time to get in while the company is out of favor with the Street. Sony shares have gained back 75 cents since Tuesday and trade at $18.75 with a 1.68% annual dividend yield. Sony is doing what it needs to do for shareholders announcing plans this week to lay off 10,000 employees by the end of March 2013. This is all part of Sony's huge $926 million restructuring effort.
Bank of America (BAC) needs no introduction and so far in 2012 its shares have made a 63% comeback. BofA is still under $10 a shae, trading today at $9.03. Mastery expects major resistance to the $10 level but should it break through its game on. Yesterday BAC got an upgrade from Guggenheim Securities. Guggenheim has an $11 price target on BofA and raised its rating to "Buy". Guggenheim said BofA at $10 a share a presents a buying opportunity as the company could show gains from securities transactions and the retirement of debt this quarter.
General Electric (GE) is a great play for cashing in on the U.S. financials upswing and global growth/revenue potential. We made our case for GE earlier in the week in If Market Correction fizzles Buy GE we stand by that thesis. How about that, the correction didn't take hold thus review our article. GE shares are up 1.5% today to $19.29.
3 STOCKS TO BUY ON THE BOUNCE
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