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Top Bulls Reasons To Buy — Vote below!

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 Undervalued due to strong yen appreciation

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Company: Canon (CAJ)
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edit Undervalued due to strong yen appreciation

Top Contributor: Asif Suria | Created when CAJ was $51.93 | Edit | History

Canon is an excellent company and long-term investment. In anticipation of a big purchase later this year, I am liquidating part of my stock portfolio and as I mull over which stocks to sell, Canon (CAJ) and Nokia (yes I am still holding on to it since I featured it in the October 2005 edition) stand out the most. Canon has had a nice run in recent weeks with the stock appreciating almost 30% since early February and 13.48% since we added it to our model portfolio at the end of 2007.

One of the reasons I mentioned while picking Canon was the extreme sell-off in the stock due to concerns about a stronger yen affecting profits in 2008. The yen continued appreciating against the dollar through mid-March but the stock has instead appreciated year-to-date as you can see from the chart below.

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