At a time when companies are issuing profit warnings right and left, the Value Line Investment Survey still sees some good stocks to buy.
Value Line, a weekly publication that analyzes 1,700 stocks, has a history of outperforming the broad market with its top-rated picks for timeliness based on expected performance for the year ahead. Each week, Value Line updates its list of the top 100 stocks for timeliness, and in its latest issue, the publication upgraded three stocks to the top tier:
* G&K; Services (ticker: GKSRA; Tuesday price: $50), a uniform supplier wrapping up its acquisition of National Linen Service. "The traditional industrial client base is expanding, since service and high-technology industries are turning to the use of uniforms to increase corporate identity and productivity."
* Tech Data (TECD, $49.94), a hardware and software distributor that recently completed the acquisition of Computer 2000. "The addition of the European computer products distributor entrenches it as the No. 2 player in the European and North American markets."
* Tyco International Ltd. (TYC, $56.75), a diversified manufacturer that's first or second in an array of businesses such as certain medical products and security systems. "Good earnings momentum should continue to 2003."
Downgraded from the top tier for timeliness were trucking company J.B. Hunt (JBHT, $14.13), home furnishings seller Herman Miller (MLHR, $22) and computer software and services supplier Symantec Corp. (SYMC, $13.50).