Large Cap

Over $10 Billion

ARTICLES

Following Spin-Off of Conduent, New Xerox Is A Buy Up to $10

Printing equipment company Xerox (NYSE: XRX) will spin-off its business process services unit into a separate company on December 31, 2016. We like the New Xerox – it unwinds the distracting 2009 acquisition of Affiliated Computer Systems and has new management that should improve focus and execution. We have a Buy limit of $10.
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Conduent, Spin-off From Xerox, Is A Buy Up to $20

Business process services company Conduent (NYSE: CNDT) will be spun-off as a separate company from Xerox on December 31, 2016. We like Conduent – it was undermanaged following its 2009 acquisition (then called Affiliated Computer Systems) by Xerox, yet now has new management that can focus exclusively on its own strategy. We have a Buy limit of $20.
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With a decent 2.3% dividend yield, we think this value stock's shares have a bright future. 

Purchase Recommendation - January 2017

It appears that much-needed stability is returning to this large-cap value stock, and continued strengthening of the economy could add the tailwinds of higher advertising prices and slower cord-cutting. The stock pick's valuation looks reasonable--even before factoring in the likely benefits of the new, more stable turnaround management. 
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Just as low-priced stocks don’t necessarily have downside limits, high-priced stocks--even expensive ones--don’t always have lids that prevent them from going up further. 

High-Priced Stocks Can Be Cheap

Like all stocks that move up quickly, low-priced stocks can come down quickly in a bear market. That is one of the reasons we prefer stocks with better valuations. Which stocks with high share prices look attractive today? We looked through a roster of dozens of stocks with prices above $100 and highlight these seven.
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2016 Bankruptcy Review: More & Bigger

While we believe that overall bankruptcy activity will remain at a high level for the foreseeable future, we think that filings in the energy sector may have peaked. We are optimistic that the increasing bankruptcy activity will provide some very attractive opportunities for turnaround investors. Read More.

Market-Beating Profit: The 200+ Club

Turnaround stocks present a unique opportunity for savvy investors to buy in at bargain prices. Take a look at this list of just a few of our purchase recommendations that have realized a return rate of 200% or better:

200+ Club: Value Investing Stock Profits with 200% or Better Return

* Bristow remains in our active portfolio (currently as a Hold), and 2,849% gain is as of 1/17/17.

Bet on These Battered Stocks

Battered Stocks/Tribune Logo: Value Investing from The Turnaround Letter Highlighted in the Chicago Tribune

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Chicago Tribune highlighted this Kiplinger's Money Power write-up on George's contrarian investing approach and The Turnaround Letter's April 2016 monthly turnaround stock pick.

 

Darren Fonda notes, "…besieged stocks often start to recuperate as the headlines fade and investors anticipate a return to precrisis sales and profits. The trick, of course, is to find companies that are more likely to rebound from a setback than collapse entirely."

 

Learn more about Putnam's turnaround investing strategy.