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What Brexit Panic? 5 Stocks Hit 52-Week Highs

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The general consensus of a prolonged period of market volatility post-Brexit seems to have been exaggerated, as the markets have once again sprung into life. The Brexit vote on Jun 24 sent shock waves through the global financial markets, confirming the worst fears of market watchers and industry experts.

Several economists still believe that lower business expenditure as a result of the Brexit referendum could weigh on GDP growth in the near-to-mid-term. Rising uncertainty could result in several companies pushing back or reducing their scale of new projects. However, the Fed is unlikely to raise rates as a result of such worries. A weak interest rate regime should outweigh the impact of a global turmoil.

Moreover, the “third” GDP estimate from the Bureau of Economic Analysis showed that first quarter output of goods and services increased at an annual rate of 1.1%, higher than the consensus estimate of a 1% increase. Further, first-quarter GDP data was revised upward from the previously estimated 0.8% rise. Additionally, the U.S. economy usually picks up pace over the second quarter, rebounding during spring and summer. (read: 5 Stocks to Buy on Stronger GDP Data).

Investors, it seems, have downplayed Brexit related fears as reflected in the recent stock market rally. Several stocks soared to their 52-week highs on Wednesday defying all odds. So it makes sense to add these high flying stocks to your portfolio now. The 52-week effect is expected to do the magic, propelling the stocks higher.

We have also narrowed down our search to the following stocks based on a good Zacks Rank. Our Zacks Rank system is a timeliness indicator, meaning that investors can use it to identify precisely when a company's prospects are beginning to improve. Stocks with Rank #1 (Strong Buy) or #2 (Buy) are the ones to look out for.

For now, we want to focus on those stocks which have weathered the recent market selloff as well as earnings recession fears and have achieved 52 week highsrecently. Moreover, the stocks’ present ranking of #1 in our Zacks Rank System makes us confident of further upside in the coming days.

Based on the above measures, we have short listed 5 stocks sporting a Zacks Rank #1 for your consideration.

Nippon Telegraph and Telephone Corp. : The company is the largest integrated telecom operator in Japan. Telecom is a necessary utility and hence is generally immune to external disturbances. Year-to-date, the stock has gained a significant 19.5%.

NTT DOCOMO Inc. : The company is the undisputed leader of the Japanese wireless market. The wireless industry is characterized by a high barrier to entry, which automatically makes these stocks immune to any short-term volatility. Year-to-date, the stock has rallied a substantial 33.7%.

BG Staffing Inc. (BGSF - Free Report) : A temporary staffing company in the U.S., BG Staffing operates through three segments: Commercial, Multifamily, and Professional. Notably, it provides skilled IT professionals IT customer projects. Year-to-date, the stock price witnessed a gain of 21.2%.

Post Holdings Inc. (POST - Free Report) : The company manufactures, markets, and sells branded and private label ready-to-eat cereal products primarily in the United States, Puerto Rico, Canada, Mexico, and the Caribbean. It operates in four segments: Post Consumer Brands, Michael Foods Group, Active Nutrition, and Private Brands. Year-to-date, the stock price has risen 32.2%.

Urstadt Biddle Properties Inc. (UBA - Free Report) : The company is a real estate investment trust engaged in the ownership, operation, and redevelopment of high quality retail shopping centers predominantly surrounding New York City. Year-to-date, the stock has rallied a substantial 29.3%.

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