Piper Sandler’s Johnson sees near-term upside in these two stocks

High multiple stocks could take a hit in the upcoming months if the U.S. Fed decides in favour of a rate hike. Amidst the concern, Piper Sandler’s Craig Johnson sees potential for upside in two stocks, albeit ones that are not very popular.

Johnson’s remarks on CNBC’s “Worldwide Exchange”

Johnson’s first pick is Methanex Corporation (NASDAQ: MEOH) – the world’s largest producer and supplier of Methanol. On CNBC’s “Worldwide Exchange”, he said this morning:

MEOH has rallied about 40% since mid-August but is still down more than 5.0% on a year-to-date basis.

Why does Johnson like Bio-Techne Corp?

Another name that pops out to Johnson is Bio-Techne Corporation (NASDAQ: TECH) that develops, manufactures and sells life science reagents, instruments and services for the research, diagnostic, and bioprocessing markets. Johnson said:

The bullish call on TECH is particularly bold, considering the stock has already rallied about 70% since the start of the year. Last week, the $21 billion company launched ExCellerate iPSC Expansion Medium.  

Johnson’s list of top stocks for Q4 also includes Unity Software and Cimarex Energy Co.