The traders on CNBC’s Fast Money discussed trades for Wednesday, October 8:
Tim Seymour said the “hysteria” over auto stocks has caused some unfair punishment for General Motors (GM). He pointed out the stock had a strong investor’s day, and the recent pullback offers “extreme value.”
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Steven Grasso would be long Mobileye (MBLY). The stock has had some mixed news, with Tesla discussing driver-assistance technology and some rumors that Mobileye is the supplier. However, Raymond James downgraded the stock, but only because of valuation; the analyst says business is still strong.
Karen Finerman recommends YUM (YUM) if it drops on its recent earnings. YUM has been troubled lately, and has been losing out in one of its strongest markets, China, because of safety concerns about its restaurants. As a result YUM’s management cut its forecast, but YUM bulls thinks the scandal is temporary, and that YUM is due for some upside.
Guy Adami thinks Ingersoll Rand (IR) looks interesting following an upgrade with a $68 price target from Goldman Sachs. The analyst cited stronger performance as the reason for the upgrade.