Safran (SAFRY) is down almost two percent so far in 2016, but the French aerospace giant's stock will rocket higher as the transition to narrowbody jets takes off, said Danton Goei, portfolio manager for the Davis Global Fund (DGFCX) . 'Safran currently has almost nine years of narrowbody engine production in backlog, which gives downside protection in the event of a pull-back in air travel.' Said Goei. 'Once installed on wing, Safran engines effectively have a captive aftermarket.' The Davis Global Fund is up 3.5 percent thus far in 2016, according to Morningstar. The $434 million fund has returned an average of 6.4 percent annually over the past three years, outpacing 81 percent of its rivals in Morningstar's world stock category. Goei is also bullish on New Oriental Education (EDU) , up 36 percent year-to-date, saying the leading Chinese private education provider is blessed with huge demand for its services because 80 percent of students attend after school tutoring in a country where high school and university admission tests are hugely important.
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