Let’s talk more about recession proof stocks. What are these stocks & are they really helpful in dealing with ongoing recession.
Economic experts and market indicators have forecasted that world economies could be shaken by recession next year.
Stock market enthusiasts are weary of this warning, with many wondering whether to pull out or take a gamble.
We have some good news for you. Not all stocks slip when there is a recession.
In this report, we will highlight for you recession proof stocks to help in making decisions & so you can buy best stocks in 2023. These stocks are mostly S&P 500.
1. Walmart Inc– recession proof stocks
Top of the list of recession proof stocks in 2023 is Walmart Inc, a retail chain giant. Even when do not look, bargain hunting at the retailer has always been an option for the consumer due to its promise of lower prices every day.
While Walmart has also felt the heat triggered by economic stress, its business model has outperformed the challenges, making it one of the companies to consider for long-term investment in stocks, Currently, Walmart is focused on technology, automation of services, and e-commerce. In past recessions,
Walmart’s revenues did not take a hit like most companies. In at least 20 years, the retailer has scaled above the bear market. The Center for Financial Research and Analysis (CFRA) recommends this stock, with a price target of $154. and topped in recession proof stocks.
2. Home Depot Inc – best recession-proof stocks
The desire for decent homes in the US has catapulted Home Depot Inc to a new dimension. The home improvement business is a projected winner in any recession because the Federal Reserve lowers interest rates during such times.
Also, buying new homes is becoming a luxury, therefore, many Americans are opting to have their current residences remodeled since Home Depot Inc has a proven track record, it is becoming a choice for many and in the process making its stock very attractive even as the supply chain sector swims in turbulent waters. CRA has a buy rating and price target of $291.06 for this stock.
3. Abbott Laboratories – Recession Proof Stocks With Dividend
Abbott Laboratories or simply ABT manufactures a wide range of healthcare products. The company’s diversified portfolio and ever-growing market share make it one of the strongest and most stable stocks. During the 2008 recession and the 2020 coronavirus pandemic,
ABT outperformed the market. It has a good history of compensating its shareholders with healthy dividends. The firm is leveraging technology and innovation to raise its market scope. With a CFRA buy rating and a price target of $123, ABT is definitely a stock to consider for short and mid, and long-term investment. Add this recession proof stock with dividend in your watchlist.
4. Synopsys Inc
It is highly unlikely you will go wrong with Synopsys Inc given the sharp growth in the semiconductor industry across the world. Known as SNPS in the stock market, this is a platform where engineers and developers flock every day to test their semiconductor chips and software applications.
Its electronic design automation model gives it an edge in the industry plus a high and constant growth rate for the long term. With a price target of $514 and a CFRA buy rating, SNPS stock is not bad at all. During the 2008 recession, it outperformed the market by 9.9 percent.
5. T-Mobile US Inc
The second largest wireless provider by subscriber reach market in the US has enjoyed massive financial success over the years, with its stock resisting recession impacts. T-Mobile’s early capture of the 5G network market has put its stock in a pole position not to be overwhelmed by the predicted economic downturns because whether there is a recession or not, the need for fast and reliable internet will never be negated.
However, the market remains highly competitive because the consumer is always looking for the best internet services. During the 2020 coronavirus pandemic, the company outperformed the market by 55.7 percent. CFRA has a buy rating for T-Mobile and a price target of $170.
6. Accenture PLC
With the advancement in the technology sector, Accenture Inc will be a big winner in the long run. With the demand for technology services in a fast-moving world, ACN will remain a sought-after consulting firm and the result will be that its stocks will remain recession-proof. You won’t believe that it outperformed the market with a record 29.5 percent during the 2008 recession.
No doubt the future is the technology and since ACN has spread its wings in different continents, its market share will continue to move up. ACN has a CFRA buy rate and a price target of $333.
7. Walt Disney Co.
The decades-old media and entertainment empire has survived the previous recession pretty much without a strong hit. The diversification in the business has helped the company remain resilient even during challenging economic times.
Though Disney’s cruise business, and movie and TV studios were closed during the 2020 pandemic, Disney+ streaming subscriptions increased. This enabled the company to outperform the market by 9 percent. The streaming-service market is projected to grow even more in the coming years, thus Walt’s stock market will overcome recession effects. CFRA has a buy rate for this company and a price target of $120.
8. NextEra Energy Inc
The energy sector often takes soft blows during recessions. Its stock has been proven to outperform the market even during tough economic seasons and analysts project even with the looming recession, NextEra Energy will navigate without major hits. CFRA gave it a buy rate and a price target of $92.
9. Diaego PLC
The alcoholic beverages maker has a loyal customer base across the world and not even a recession can change that fact. Its stock weathers the recession storms and the revenues grow year in, and year out. It has a track record of increasing dividends to shareholders each year and a market cap of $98.97 billion.
10. The Protector & Gamble Company(P&G)
The demand for consumer goods as well as personal and hygiene products will be almost constant and high. That explains why PG stock has remained quite strong even during the recession and should the next one happen, there won’t be much difference. The Deutsche Bank has a buy rating for PG stocks and a price target of $179.
Don’t be limited to these stocks, there are more, and can research more and see the ones that suit you and your money.
Before putting your money in any stocks due your own due diligence.
Final Verdict on recession proof investments in 2023
We have collected the best list of top 10 stocks that you can buy before the market crashes. Some stocks gives you dividends even in recession & doesn’t get much effect as they are recession proof stocks. The above list of stocks is made by highly professional writers & stock investor. So you can trust us with that. But we would still recommend you to do the research about the industry & the market as there is finance involved in it & you may loose money if things goes south.
If you like this content please share this with your family & help then save money even during the recession & remove their confusion on what stocks to buy during market recessions.