NEW YORK — Forbes is recommending that would-be investors put their money on General Motors and FIAT in 2013. The two automotive brands were each named in Forbes’ “12 Stocks to Buy in 2013.”
Twelve top advisors provided the publication with their 2013 investment outlook. Atalanta Sosnoff Capital’s Martin Sosnoff told the news outlet that investors should buy GM stock. Pessimism regarding the company is keeping its stock price down, but an improving employment picture and rising consumer confidence has the company poised for a solid 2013. “GM finally is a competitive operator,” Sosnoff was quoted as saying. “The government still owns 26.5 percent of the company but is in no hurry to sell shares, declining GM’s offer to buy out the stake this year.”
Guy Spier of Aquamarine told Forbes his advice is to buy FIAT. “Some consider Fiat Chief Sergio Marchionne the Steve Jobs of autos. FIAT owns two-thirds of Chrysler and produces iconic brands like Jeep, Maserati and Ferrari. It trades at 2.4 times enterprise value to cash flow. A turnaround stock that could double,” Forbes wrote.
Others on the list include Northrop Grumman, HMS Holdings, Pfizer, The Fresh Market, Acacia Research, Procter & Gamble, Health Care SPDR, Microsoft, Ethan Allen Interiors and the Mexican peso.
The entire list can be found here.