On CNBC's "Fast Money," Chris Verrone of Strategas said investors have to be more selective in the current market. He offered three stock picks that should do well for the remainder of the year.
He loves insurance and American International Group Inc AIG. It is breaking out of its five-year downtrend and it is consolidating in the mid $50s. Verrone sees the stock at $70.
Alcoa Corp AA has held really well in a challenging macro environment. The stock has just moved above $45 and Verrone expects it to reach $60.
Pfizer Inc. PFE just broke out of a 20-year range and Verrone is a buyer of the stock. There are only six or seven buy ratings among the Wall Street analysts, so Verrone expects to see some upgrades that could push the stock higher.
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