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Top Stock Picks for Week of July 26, 2021

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ASML ASML is a world leader in the manufacture of advanced technology systems for the semiconductor industry.Shares have been on the move with the stock up 9% over the past month. The stock hit a new 52-week high recently. ASML Holding N.V. has gained by double digits since the start of the year compared to the Zacks Computer and Technology sector and the return for the Zacks Semiconductor Equipment - Wafer Fabrication industry. The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. Strong demand for advanced nodes in support of the build up of the digital infrastructure, which includes growth drivers such as 5G, AI and high-performance computing solutions, is expected to have acted as a tailwind by boosting the demand for the company’s products. It seems as though ASML shares could have a bit more room to run in the near term.

Penske Automotive Group, Inc. PAG, engages in the operation of automotive and commercial truck dealerships in the United States, Canada and Western Europe. Penske's diversified business segments which include heavy duty truck retailing/leasing bode well. The firm has become the largest dealership group for Freightliner in North America with the acquisition of Warner Truck Centers. Buyout of Kansas City Freightliner is set to expand Penske’s Premier Truck Group arm’s scale and bolster top line growth. The firm's investor friendly moves as well increasing digital capabilities and cost cut efforts are also praiseworthy.Penske engages in share buybacks in almost every quarter which boosts investors’ confidence. It also hiked its dividend payout early this year, further boosting investors' confidence. The company's ROE compares favorably with the auto sector's ROE, thus signaling management's efficiency in rewarding shareholders. Expansion of digital capabilities and cost-cut initiatives are also aiding the firm. Over the preceding four quarters, the company topped estimates on all occasions.


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