Agrium is coming off a tremendous Q407 in which they posted earnings of $1.24, or 41% over consensus estimates. The company owes its success to strong demand for their fertilizer which is used to increase crop yields. Through production and acquisitions Agrium has maneuvered into the sweet spot of increasing world wide demand for food and grain energy. The stock has also shown strong price action over the last five years. The charts show a prolonged move upwards without any signs of slowing. If the stock hits earnings estimates of $4.80 in 2008 it could trade up to $105 at current multiples.

Ceragon Networks Ltd based out of Tel Aviv is a leading provider of wireless WiMax communication systems. The stock price saw a run up last summer which ended after a secondary market offering and the subsequent NASDAQ crash. The price has continued to decline even though it has nine recent analyst upgrades. Telecommunications is still an under penetrated market in the Middle East and Eastern Europe where Ceragon thrives. The company began turning out positive earnings last February and I estimate earnings at $0.64 for 2008. Price target on CRNT is 14.10

Diana is a dry bulk shipping company which transports commodities. Strong global demand for has driven up the daily shipping rates that Diana can charge for using their vessels. Dry bulk rates peaked in November but now are back above $100,000 per day and climbing. Diana should see earnings estimates follow. The stock also boasts and insane 8.3% yield. The CEO has been reluctant to make capital investments as rates go up so they are likely to continue increasing their $2.40 dividend which becomes more valuable as interest rates and bond yields come down.

First Marblehead has seen their share price plummet due to their inability to securitize student loan packages on the secondary markets. The company was forced to raise $250 million in a deal with Goldman Sachs which gives them the right to buy shares at $15. FMD has an enterprise value of $10 per share and is expected to trade down until they can begin securitizing again. PE to 2008 earnings is 6.7 while PE based on 2009 earnings is only 3.3. FMD represents a real value to future growth. Once the financial markets recover and the street begins to trust earnings FMD could massively outperform everything.

Google grew Q4 revenue by a disappointing 14% year over year but the stock has been hammered down over 40%. Advertisement revenue was once thought to be recession proof but a consumer spending has shown weakness even in online sales. The economy should turn later this year and Google should lead the NASDAQ back to positive territory on the year. Consensus price target is $683.

Google grew Q4 revenue by a disappointing 14% year over year but the stock has been hammered down over 40%. Advertisement revenue was once thought to be recession proof but a consumer spending has shown weakness even in online sales. The economy should turn later this year and Google should lead the NASDAQ back to positive territory on the year. Consensus price target is $683.

ICO saw a slowdown in the fourth quarter and posted earnings of $0.13 which was 27% below expectations. ICO manufactures specialty plastic resins for use in toys and water towers as well as offers polymer processing service. A large portion of their business comes from overseas in Asia, Europe, and Australia. Current PE is only 9.48 while growth rate remains at 17%. Price target based on $0.79 EPS is $11.85.

Manitowoc reported fourth quarter EPS of $0.74, above estimates of $0.57, on the back of strong global demand for the company’s lifting solutions, and lower tax rate. The company’s crane backlog grew 87.5% year over year. This points to strong growth in future quarters and demonstrates that MTW will continue to benefit from international construction growth. The chart shows strong price action as well as institutional buying under $40. Price Target is $50.