Tags: Cooperman | stock | recession | value

Hedge Fund Titan Cooperman Recommends 12 Stocks, Including Citigroup, KKR

By    |   Thursday, 17 July 2014 09:00 AM

Stocks' recent rise to record highs — the Dow Jones Industrial Average hit a new peak Wednesday — hasn't scared away hedge fund legend Leon Cooperman, founder of Omega Advisors.

He sees the market as fully but fairly valued.

"I don't think it's overvalued and the conditions that normally lead to a peak, those seem to be present," Cooperman told CNBC.

"Typical bear markets occur because the market discounts a coming recession. There is nothing in the economic data indicating such."

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Cooperman offered 12 stock recommendations at the Delivering Alpha investment conference this week, dividing them up into four groups.

1. Growth at a reasonable price: Actavis, Citigroup and Thermo Fisher.
2. Income and growth: Atlas Energy, Gaming and Leisure Properties, KKR and Nordic American Offshore.
3. Asset restructure: QEP Resources and Supervalu.
4. High risk/high return: Louis XIII Holdings, Monitise and SandRidge Energy.

Cooperman has a stellar track record with his picks at the conference. All 10 of his 2012 selections rose in the following 12 months. And eight out of his 10 choices in 2013 did so.

"All of the conditions that normally lead to recession are invisible," he noted.

"Accelerating inflation, we don't have it. Inverted yield curve, we don't have it. Rising inventory-sales ratios, we don't have it. Declining employment, we don't have it. Rising initial jobless claims, we don't have it," Cooperman explained.

"So now we are arguing how high is high. You know, at the end of the day we'll get to euphoria most likely. But we're nowhere near euphoria."
Meanwhile, Goldman Sachs equity analysts, led by Amanda Sneider, came up with a list of 22 companies whose second-quarter earnings will beat consensus forecasts in their opinion. Companies that top consensus estimates often see their share price appreciate.

The list of stocks Goldman believes will top the consensus, which was obtained by MarketWatch, includes:

SanDisk Texas Instruments
Harley-Davidson Juniper Networks
Assurant O'Reilly Automotive
Tractor Supply Altera
T. Rowe Price Wyndham Worldwide
Alexion Pharmaceuticals CBRE Group
CONSOL Energy Helmerich & Payne
McKesson American Express
Corning Newfield Exploration
Akamai Tech Boston Properties
Lincoln National Southwestern Energy

Editor's Note: Seniors Scoop Up Unclaimed $20,500 Checks? (See if You qualify)

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Stocks' recent rise to record highs hasn't scared away hedge fund legend Leon Cooperman, founder of Omega Advisors.
Cooperman, stock, recession, value
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2014-00-17
Thursday, 17 July 2014 09:00 AM
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