Bull Market Buys: 3 Exciting Growth Stocks to Own for the Long Run
The underlying secular growth drivers behind investing themes like automation and industrial software are too powerful to be derailed by a cyclical slowdown caused by rising rates. In other words, the cyclical weakness in the industrial sector in 2023 is creating an interesting buying opportunity in stocks like PTC (NASDAQ: PTC), (NASDAQ: CGNX), and Emerson Electric (NYSE: EMR). Here's why all three are attractive stocks to buy.
There is cyclical weakness in the many parts of the industrial sector right now. Rising interest rates put particular pressure on consumer discretionary spending. That hits customers in Cognex's three main end markets: consumer electronics, automotives, and logistics (primarily e-commerce warehousing).
Cognex is a leader in the machine vision market. It's a technology that helps customers ensure production quality control, increase production efficiency, and save costs by replacing labor while generating data that can be used to improve processes. Think of the precise layering of screens on mobile phones (Apple is a major customer), precise manufacturing of electric vehicle batteries, or monitoring and guiding packages in e-commerce fulfillment centers.
Source Fool.com
Cognex Corp. Stock
Our community is currently high on Cognex Corp. with 14 Buy predictions and 3 Sell predictions.
With a target price of 49 € there is a positive potential of 34.1% for Cognex Corp. compared to the current price of 36.54 €.
