Lorne Steinberg Reveals November 2024’s Top Stocks to Watch

Exploring Lorne Steinberg’s Top Stock Picks for November 2024: A Balanced Strategy in a Buoyant Market

Editorial Team (ET)February 13, 2026

The U.S. election and a Federal Reserve rate cut have together injected optimism into the markets, hinting at steady economic growth and no signs of a recession on the horizon. Inflation appears controlled, and with an inverted yield curve, there’s an expectation of further easing by central banks. This sets a solid foundation for equities, particularly as rate cuts provide relief to consumers and corporations alike.

The challenge, however, is gauging how much of this optimism is already embedded in current stock prices. While markets are at all-time highs, much of this performance has been propelled by a select few large-cap stocks. This leaves substantial untapped opportunities within undervalued segments of the market. Nonetheless, China's economic slowdown presents a potential risk, especially for multinationals. Investors, therefore, must maintain a disciplined approach, strategically adjusting portfolios to capture value.

Lorne Steinberg’s Investment Strategy: Identifying Hidden Opportunities

Lorne Steinberg, President of Lorne Steinberg Wealth Management, emphasizes the importance of discipline in the face of these market dynamics. He advises investors to focus on trimming overvalued positions and seeking companies with better value propositions. His top picks for November 2024 include three standout stocks: Adobe, Becton, Dickinson and Co. (BDX), and Techtronic Industries (TTNDY). These companies exhibit growth potential, strong fundamentals, and attractive valuation, providing a balanced mix of technological innovation, healthcare advancement, and consumer-oriented industrial strength.

Adobe (ADBE NASD): A Digital Powerhouse Poised for Growth

Adobe has consistently delivered strong revenue growth in recent years, yet its share price has underperformed compared to its tech counterparts. The company’s continued investment in artificial intelligence (AI) and its deep integration of AI into core products like Photoshop, Premiere Pro, and its cloud-based services position Adobe for enhanced subscription growth and potential pricing power.

Key Strengths of Adobe:

Robust Revenue Stream: Adobe’s business model generates consistent, double-digit revenue growth driven by subscription services.
Strategic Use of Free Cash Flow: With 25% of its revenue converted into free cash flow, Adobe uses these funds for share buybacks and acquisitions that strengthen its competitive edge.
Growth in AI Integration: As AI becomes central to Adobe’s offerings, it is set to attract new customers while enhancing services for existing clients, potentially leading to increased subscriptions and pricing flexibility.

Valuation and Future Prospects

Adobe’s current share price reflects a compelling entry point for investors, especially given its promising trajectory in both AI and creative industries. The company’s combination of free cash flow strength and innovation underscores its potential to capture additional market share and accelerate growth over the coming years.

Becton, Dickinson and Co. (BDX NYSE): A Healthcare Giant with Strong Recurring Revenue

Becton, Dickinson & Co., commonly known as BD, is a global leader in medical technology with a broad product lineup that includes syringes, catheters, and other essential hospital equipment. BD’s products are critical to healthcare providers worldwide, and over 90% of its sales are recurring due to the disposable nature of many of its offerings.

Key Strengths of Becton, Dickinson:

Dominant Market Share: BD holds a commanding 25% market share in its sector, driven by a strong brand reputation and quality products.
Stable Revenue Stream: With a focus on disposable products, BD enjoys a consistent, recurring revenue base that reduces volatility.
Research and Development (R&D) Commitment: BD reinvests 6% of its revenue into R&D, ensuring continuous product innovation and maintaining its leadership position.

Growth Potential and Valuation

The outlook for BD is promising, with projected earnings and free cash flow growth supported by a healthy balance sheet. Currently trading at a P/E ratio of 17, BD’s stock offers a favorable valuation for a company with its growth profile. Additionally, BD’s recent share buybacks indicate management’s confidence in the company’s long-term value. For investors seeking a stable and high-quality healthcare stock, BD represents a compelling opportunity.

Techtronic Industries (TTNDY - ADR): A Leading Innovator in Power Tools and Home Care

Known for its powerful brands like Milwaukee, Ryobi, and Hoover, Techtronic Industries has established itself as a global leader in the power tools and floor care sectors. The company saw rapid growth during the pandemic, and while growth temporarily slowed post-COVID, market normalization positions Techtronic for sustained growth in the coming years.

Key Strengths of Techtronic Industries:

Impressive Brand Portfolio: Techtronic’s brands are household names in both the power tool and floor care segments, enhancing its market penetration and consumer loyalty.
Revenue Growth Prospects: With market conditions stabilizing, Techtronic is positioned to achieve a steady 10% annual revenue growth rate.
Proven Resilience: Despite exposure to cyclical industries, Techtronic has demonstrated an ability to grow earnings and cash flow consistently across different market cycles.

Valuation and Shareholder Value Currently trading at a discount to its intrinsic value, Techtronic represents an attractive investment for those seeking exposure to a global market leader with a track record of innovation. Its discount offers a potential entry point for investors looking for long-term gains in the industrial sector.

Final Thoughts: A Diversified Approach to Navigating Market Opportunities

Lorne Steinberg’s top picks, Adobe, Becton, Dickinson, and Techtronic Industries, present a well-rounded selection for navigating today’s complex market environment. Each of these companies showcases unique strengths, from Adobe’s technological edge and BD’s healthcare consistency to Techtronic’s industrial resilience. As investors consider their next moves, Steinberg’s disciplined approach serves as a reminder of the importance of focusing on value and growth potential while remaining vigilant about global economic shifts, particularly in China.

Investors looking to optimize their portfolios for the remainder of 2024 and beyond would do well to consider Steinberg’s top picks. With a combination of technology, healthcare, and industrial sectors, these choices provide a balanced approach to capturing market value across diverse economic conditions.

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