If Donald Trump Wins, These 2 Stocks Can Explode
July 30, 2024 (Investorideas.com Newswire) According to PredicIt consensus, Donald Trump has a 57% chance of winning over Kamala Harris.
Saqib Iqbal, a financial analyst at Tradequotex.com suggests certain sectors can explode if Donald Trump becomes president in November.
- Certain sectors will benefit if Trump is reelected.
- The high tariffs can increase steel production, benefitting, STLD.
- Trump's love for oil production may boost HAL's value.
"Investors have already been influenced by Trump's increasing chances of winning a second term. As Trump has historically supported the oil and gas industry and backed the domestic steel industry in the past, key players may be able to benefit. Two such players are Steel Dynamics (STLD) and Halliburton (HAL).
Steel Dynamics (NASDAQ: STLD)
As a result of Trump's improved polling numbers, investors have priced in the possibility of his 10% tariffs on all imports. This would increase the cost of imports and increase steel demand, hence benefitting STLD.
The company topped the average expectation of $2.67 to produce $2.72 EPS for the quarter in its most recent earnings release. In contrast to experts' projections of $4.43 billion, the company's revenue for the quarter was $4.63 billion.
According to Saqib, Steel is being undervalued since it is trading lower than its competitors in the business. At 10.40 times, its P/E is likewise significantly less than the industry average of 15.22 times.
Halliburton (NYSE: HAL)
Should Trump win, production may change quickly, which can boost HAL's production. HAL's finances also present a positive image. Thanks to strong worldwide demand, Halliburton just reported higher quarterly profits.
With the present oil prices, it is expected that Halliburton's services will remain in high demand. According to its fair value, the stock is currently undervalued by 23%. So, if the former president wins, HAL can experience significant growth.
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