10 Best Stocks for 2014: Citigroup (C)
Investor: Greg Harmon
Financials are a pretty popular theme for the 10 Best Stocks for 2014 contest. Just take a look at our next pick, courtesy of two-year entrant Greg Harmon. Harmon has chosen Citigroup (C) for the one-two punch of fundamental tailwinds for financials, and a strong chart for C stock.
As he explained, tapering from the Fed will mean rising interest rates, which means a boost for all banks that collect deposits and lend money. But Citigroup stock in particular is also showing relative strength and has the potential to breakout in 2014.
Right now, Citigroup stock is trading for just under $52. According to Harmon, “If Citigroup stock climbs over $54, it could do multiples of its price and win the Best Stocks for 2014 contest.”
That would quite an improvement from Harmon’s performance in this year’s contest. Right now, his pick of Great Lakes Dredge & Dock (GLDD) is sitting on meager 3% returns and a seventh-place position. Still, that didn’t stop Harmon from coming back for another try at the top spot for the 10 Best Stocks for 2014 contest.