Stocks of Cognex and Brookfield Renewable down 21% and 34%, but considered good buys

From Nasdaq: 2024-04-27 03:03:00

The S&P 500 has surged nearly 20% in the past year, surpassing the Dow Jones Industrial Average. However, stocks like Cognex and Brookfield Renewable have declined 21% and 34% respectively. Despite this, both stocks are considered buys due to their long-term growth potential.

Cognex has faced challenges in its key markets, with a 4% drop in stock this year. However, the company’s technology remains crucial for consumer electronics, automotive, and e-commerce industries. Investment in new products and automation will drive growth in the future, making Cognex a strong buy.

Brookfield Renewable’s stock has dropped 34% in the past year, despite a strong performance by the company. With a forward-yielding 6.4% stock, Brookfield Renewable offers an appealing option for passive income investors. The company’s record FFO and growth projections make it a solid choice for long-term investors.

While the stocks of both Cognex and Brookfield Renewable have declined recently, smart investors see this as an opportunity to capitalize on their growth potential. Cognex’s technology is essential for various industries, while Brookfield Renewable offers a high-yield option for passive income investors. Consider these stocks for your investment portfolio.



Read more at Nasdaq: 2 Stocks Down 21% and 34% to Buy Right Now