Best stocks for new money
Morningstar asks its stock managers for new investment ideas, and Citigroup comes back as a top choice.
The idea was to find stocks where Morningstar managers have put new money to work. As it turns out, the firm's managers continue to overweight financials. One manager liked Citigroup (C) so much that he plowed 6% of his fund in the stock.
In fact, Citigroup leads the list of top new money purchases at Morningstar, although the firm admits that the stock's fair value uncertainty is "very high."
Here are the rest of Morningstar's top 10:
No. 2: Qualcomm (QCOM)
No. 3: Bank of NY Mellon (BK)
No. 4: Aon (AON)
No. 5: Merck (MRK)
No. 6: Clorox (CLX)
No. 7: Barrick Gold (ABX)
No. 8: Vodafone (VOD)
No. 9: Pfizer (PFE)
No. 10: OccidPetroleum (OXY)
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Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The solid report comes a month after the retailer closed all of its Canadian operations.
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