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The maker of aerospace and automotive components said profit jumped 55% in its fiscal third quarter, which ended in January. The company cited strong sales across all major segments. And like the other companies on our list, Precision Castparts is well positioned to withstand an economic slowdown.
Demand for aerospace components remains robust despite the gloomy economic climate, according to JP Morgan analyst Joseph Nadol.
What's more, the stock trades at a discount to its industry counterparts. Nadol thinks it deserves to trade at a higher valuation than its peers.
"We believe Precision Counterpart's much higher than average growth rate, driven by smart acquisitions, efficient operations, and increasing market share justify a premium to the group," Nadol wrote in a recent research report.
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Last quarter, the economy grew by the largest amount since the summer of 2007, but there are signs that things are still getting worse. More
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