All three main indexes are in the green this morning as investors await the Federal Reserve’s decision on whether to raise the interest rates or not. Among the stocks capturing some attention from traders today are several resource companies, one generic manufacturer, and one major tech giant.
In this article, let’s find out why investors are buzzing about Alphabet Inc (NASDAQ:GOOG), Vale SA (ADR) (NYSE:VALE), Allergan plc Ordinary Shares (NYSE:AGN), InterOil Corporation (USA) (NYSE:IOC), and Exxon Mobil Corporation (NYSE:XOM) and see what the smart money investors from our database think about each stock.
At Insider Monkey, we track around 740 hedge funds and institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on, can help retail investors generate double digits of alpha per year. The key is to focus on the small-cap picks of these funds, which are usually less followed by the broader market and allow for larger price inefficiencies (see the details here).
Vale SA (ADR) (NYSE:VALE) shares have gained over 5% after Barclays upgraded its rating on the iron ore producer to ‘Equal Weight’ from ‘Underweight’. However, the investment bank maintained its $4 price target on the stock. Vale might need China’s economy to strengthen a bit before the company can fundamentally go full steam ahead again. The number of funds from our database with holdings in Vale SA (ADR) (NYSE:VALE) fell by two quarter-over-quarter to 24 at the end of June.
On the next page, we find out why investors are buzzing about Allergan, InterOil Corporation, and Exxon Mobil Corporation.