General Cable Corp.: Pull-back is buy opportunity

Filed under: Stocks to Buy

Based on its decent Q3 performance and the 2010 outlook for the U.S./global economies, I'm reiterating my buy rating for General Cable Corporation (BGC), first recommended on May 5, 2009, at a price of $34.59.

General Cable, which develops, designs, manufactures, and distributes copper, aluminum, and fiber optic wire and cable products for the communications, energy and electrical markets, reported Q3 EPS of 55 cents, above the First Call Q3 EPS estimate of 53 cents. However, General Cable gave up yearly gains because it announced a Q4 production cut -- one that will likely weigh on Q4 earnings.

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General Cable Corp.: Pull-back is buy opportunity originally appeared on BloggingStocks on Tue, 17 Nov 2009 17:30:00 EST. Please see our terms for use of feeds.

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