"Agriculture-related stocks have been hammered; as a result, we are now buyers of Monsanto (NYSE: MON)," says Glenn Rogers in Gordon Pape's The Internet Wealth Builder.
"Monsanto just recently released solid earnings and raised guidance for the year. They are now looking for earnings of $3.58 to $3.60 a share, up from $3.37 previously.
"The company said the change reflected higher-than-expected sales and gross profit in its seeds and traits business and its Roundup and other glyphosate-based herbicide business.
"The stock is down almost 20% from its all-time high of $145.80 reached in mid-June, but has lately been showing signs of renewed strength. Farmers may defer the purchase of a tractor but seed is likely to be the last place they will scrimp.
"There aren't many stocks that I am actively buying in the current market conditions but Monsanto is an exception. We rate the stock a buy."
Steven Halpern's TheStockAdvisors.com offers a daily look at the latest market commentary and favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.
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