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Trade of the Day: Financial Engines (FNGN)

FNGN should back-and-fill from here

   

Financial Engines (FNGN) provides independent, technology-enabled portfolio management services, investment advice and retirement-income services to participants in employer-sponsored defined contribution plans. It helps investors plan for retirement by offering personalized plans for saving and investing, as well as by providing assessments of retirement income needs and readiness. This is a great play on the outsourcing of financial advice for employers who have begun to shun sending their workers to brokerages. The company was founded by Nobel prize winner William F. Sharpe, whose landmark work on investment returns is known as the Sharpe Ratio.

Shares doubled from the start of the year through the end of September before pulling back. Now is a good time to buy while they are discounted.

Recommendation: Buy FNGN at current levels for a $63.00 target.

Jon Markman operates the investment firm Markman Capital Insights. He also writes a daily trading newsletter, Trader’s Advantage, and CounterPoint Options, a service geared towards helping individual traders make steady, consistent profits with the VIX. . Check out his Top Stock for 2012 here.

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Article printed from InvestorPlace Media, http://investorplace.com/2013/10/trade-of-the-day-fngn/.

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