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For the very first time in their long and storied history, Cantor Fitzgerald has come out with a list outlining its top stock picks for the year. Long respected as a premier fixed income trading firm that specialized in U.S. Treasury bonds, Cantor Fitzgerald was rebuilt and reborn after the tragic events of 9/11 when more than two-thirds of its workforce was killed in the attacks on the World Trade Center.

In stark comparison to many Wall St. firms, Cantor Fitzgerald has remained more of a boutique type shop when it comes to equity research. Rather than trying to be all things to all people, the firm focuses on specific niche areas of the market where it can provide truly deep and extensive coverage. The focus of coverage is on Internet, media, technology, commercial real estate, health care and consumer names.

Our reason for focusing on the lower priced names in their Conviction List is twofold. First it provides investors the ability to buy more shares of a company they find attractive. Also, the lower priced names allow for investors to purchase more names to add diversification to their portfolios. Here are the top five names trading under $15:

Celldex Therapeutics Inc. (NASDAQ: CLDX). This biopharmaceutical company focuses on the development, manufacture and commercialization of novel therapeutics for human health care, primarily in the United States. The stock closed yesterday at $7.21, and Cantor Fitzgerald has a $9 price target.

RF Micro Devices Inc. (NASDAQ: RFMD). The company designs, develops, manufactures and markets radio frequency (RF) components and compound semiconductor technologies, primarily in the United States and Asia. It was at $4.74 at yesterday’s close, and the price target is $8.

Unilife Corp. (NASDAQ: UNIS). Shares of this designer, developer, manufacturer and commercializer of injectable drug delivery systems in the United States and internationally closed yesterday at $2.34. The price target is $7.50.

Ashford Hospitality Trust Inc. (NYSE: AHT). This one is a publicly owned real estate investment trust that engages in investment and management of properties in the hospitality industry. Shares ended the session yesterday at $11.04, and the price target is $12.

Vanguard Health Systems Inc. (NYSE: VHS). This owner and operator of acute care and specialty hospitals and outpatient facilities in urban and suburban markets in the United States closed yesterday at $12.48. Cantor Fitzgerald has a $15 price target.

Many Wall St. firms focus only on the biggest and most liquid stocks and are often reluctant to present lower priced names to their clients. But since most investors do not have an unlimited pool of capital to buy and trade stocks with, lower priced quality names might just be the avenue for some big investment gains.