Reflationary assets are benefitting and basic materials are part of this group. The chart looks like it is consolidating and he thinks there is another lift coming soon.
An S&P loser in 2023, down 51%. Grain prices slid as Ukraine couldn't be the bread basket given Russia's war. FMC is a great company, but agriculture failed last year. Ag could bounce back, but if it does he prefers Deere.
Chemicals and so on. Diversified, lower risk company. Could hit $100 in 12 months. If it goes below $75, exit. Looks good based on volume patterns. Yield is 1.93%. (Analysts’ price target is $90.89)
Big chemical company. He likes their exposure to lithium and they are one of the largest suppliers globally. If the US has their way, cars will be electric, which have batteries that will be supplied with lithium. Longer term play. He is looking for an entry place at around $50/$51.
Chemical company with 3 distinct divisions. The agricultural business and industrial side are doing quite well. Their specialty chemical division has been a challenge. Looking at pretty good earnings growth going forward.
Reflationary assets are benefitting and basic materials are part of this group. The chart looks like it is consolidating and he thinks there is another lift coming soon.