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Last September, David Kestenbaum, director of equity research and managing director of Morgan Joseph, made stock picks that appreciated more than 30 percent to date. On Wednesday, he shared his "six stellar stock picks" for 2010 with CNBC.
Kestenbaum’s 2010 Recommendations:
Bally Technologies—“We think the casino industry is underinvested over the past few years and they’re going to have to make up for that in 2010-2011,” Kestenbaum said.
“They’re picking up a lot of market share and yet it’s valued at a 15 to 20 percent discount to its competitors. They’re all over the globe [including Macau].”
Great Lakes Dredge & Dock—“We like this because of the Jones Act," which eliminates foreign competition from entering the market, he said.
“They’re the leader with 50 percent market share and the industry grew 30 percent last year. We think they’ll continue to dominate that and a lot of the stimulus spending is going to help them in 2010.”
Nuance Communications—“We think voice recognition is ready to take off,” he said.
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