You know, this market just can’t seem to make up its mind lately. 🤷♂️ But you can’t really ignore those ominous storm clouds on the horizon.
And with an ugly political environment in Washington DC… and a Federal Reserve that doesn’t seem to know what they’re doing…
Well uncertainty is king again.
And when things get uncertain like this, a lot of investors start looking for stocks that can weather the storm, you know, the ones that don’t take as much of a beating when the economy goes south. No guarantees, of course, but history shows that some stocks tend to hold up better during recessions.
So, let’s talk about a couple of options that might catch your eye:
First up, we’ve got Abbott Laboratories (ABT).
They’re in the healthcare products game, and they’ve got a pretty solid track record. Even in the chaos of 2008, their shares managed to shine. Analyst Paige Meyer thinks it’s because they’ve got their fingers in a lot of healthcare pies, a strong financial foundation, and a habit of increasing their dividend. Sure, 2023 might be a bit bumpy for them due to lower COVID-19 related sales, but Meyer believes they’ll bounce back with 5% revenue growth in 2024. CFRA seems to agree, giving them a “buy” rating with a $130 price target. ABT stock closed at $103.87 on Aug. 21. They’ve outperformed the S&P 500 by 9.8% in 2020 and a whopping 33.6% in 2008.
Now, let’s chat about Accenture PLC (ACN).
These folks are all about global IT services. With a chunk of their revenue coming from North America and a solid presence in Europe and beyond, they’re pretty diversified. That’s helped them stay sturdy during tough times. Analyst Keith Snyder thinks their large customer base, strong financials, and impressive earnings growth history will keep them in good shape even when the economic winds are uncertain. CFRA’s got a “strong buy” rating on them with a $341 price target. ACN stock closed at $306.51 on Aug. 21. They outperformed the S&P 500 by 7.8% in 2020 and 29.5% in 2008.
And last but not least, we’ve got Synopsys Inc. (SNPS).
These folks are in the business of helping engineers design and test semiconductor chips and other software applications. With the tech world constantly evolving, there’s a steady demand for their services, even when the economy’s not at its best. Analyst Garrett Nelson thinks they’re in a sweet spot, especially with their leadership in electronic design automation artificial intelligence tech. Plus, they’ve got a new CEO, Sassine Ghazi, who seems to inspire confidence. CFRA gives them a “strong buy” rating with a $495 price target. SNPS stock closed at $436.47 on Aug. 21. They really outdid themselves, with a 70% outperformance in 2020 and a respectable 9.9% in 2008.
Remember, no investment is entirely recession-proof. It’s always smart to do your homework and maybe even consult with a financial advisor before diving in. But these options could set you up for big wins during these uncertain times. 📈
