3 Hot Stocks That Can Live Up to Their Lofty Valuations

Based on their current price-to-earnings (P/E) ratios, shares in industrial conglomerate Honeywell (NASDAQ: HON), industrial software company PTC (NASDAQ: PTC), and machine vision company Cognex (NASDAQ: CGNX) are not cheap -- they all trade over 25 times current earnings.

However, despite near-term headwinds, all three have excellent long-term prospects and can deliver solid returns for investors in the coming years. As a result, investors might consider buying these stocks during the current market malaise.

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Source Fool.com