214 Billion Reasons to Buy These 3 Hot Stocks
Despite the slowdown in the economy, there's one area that continues to boom, and that's non-residential construction and, specifically, manufacturing construction spending. The latter is up sharply in recent years, reaching $214 billion in 2023. I think the theme may have more room to run, and stocks like Comfort Systems USA (NYSE: FIX), Carrier (NYSE: CARR), and Germany's (OTC: SIEGY) are poised to benefit.
First, a few words on the spending boom. The charts below show the general upward trend in nonresidential construction that began in 2017, was slowed in 2020 by the onset of the pandemic, and then regathered pace in 2022. The big uptick in manufacturing construction spending began in 2022 and was aided by the CHIPS and Science Act signed in the summer of that year.
Even after adjusting for inflation (which pushes up the dollar figure of investment), the spending boom is highly significant, with the Treasury Department noting, "The boom is principally driven by construction for computer, electronic, and electrical manufacturing."
Source Fool.com
Siemens AG Stock
With 9 Buy predictions and not the single Sell prediction the community is currently very high on Siemens AG.
With a target price of 200 € there is a slightly positive potential of 13.92% for Siemens AG compared to the current price of 175.56 €.
