These 3 Stocks Are the Real Deal
These three stocks are all set for good near- and long-term growth, but for completely different reasons. Copper miner Freeport-McMoRan (NYSE: FCX) is set to benefit from increased demand for copper for use in renewable energy and hybrid/electric vehicles. Deere's (NYSE: DE) investment in precision agriculture technology makes it a leader in the smart farming revolution. And Stanley Black & Decker's (NYSE: SWK) management has pulled out all the stops in positioning the company for growth after a difficult period of external headwinds.
The near- and long-term case for copper is simple. In the near term the post-pandemic recovery in the global economy will drive demand for the highly economically sensitive commodity. Over the long term the marginal increase in demand for copper will be driven by two hot technologies.
According to the International Copper Association, a battery-operated electric vehicle uses up to four times the amount of copper an internal combustion engine (ICE) vehicle does, and a hybrid electric vehicle uses up to double an ICE. In addition, using renewable energy to generate power requires four to five times the amount of copper than fossil fuel. It comes down to the increased need for copper wiring in electric/hybrid vehicles and in the transmission and distribution networks needed for renewable energy.
Source Fool.com
