Investors looking for somewhere to park their money in the new year may want to consider these top stock picks from Bank of America.
Investors looking for somewhere to park their money in the new year may want to consider these top stock picks, according to Bank of America. The bank outlined 11 of its favorite names for 2023 in a note to clients Wednesday. Don't be surprised if challenges linger in the new year as the Federal Reserve hikes rates, inflation persists and recession concerns mount. Some names, however, may be better positioned to ride out the volatility, according to the Wall Street firm.
Another 2023 name to buy is health-care stock Humana , which outperformed in 2022 as investors flocked toward safe-haven sectors. Shares rallied more than 10% and analysts expect that to continue as a recession looms. The bank also recommends the stock as a play in the first quarter . Energy posted a record run in 2022 as oil prices gained, finishing in positive territory while other S & P 500 sectors faltered. One of those outperformers was Exxon Mobil .
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