2 No-Brainer Stocks to Buy Now That Could Soar in 2023
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Jeff Santoro, The Motley Fool
- INMD
-0.19% - OM
+0.80%
As the year winds down, investors may Temp Mail be looking forward to 2023 and hoping for a better year in the stock market. Part of this growth is due to sales of consumables, which increased 53% year over year, outpacing revenue growth.
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Argus ResearchDaily Spotlight: Argus Preliminary Market Outlook for 2023
The long-term trend in the U.S. stock market has been higher. Since 1980, stocks have turned in positive annual performances almost 80% of the time. The average annual gain has been 13%. This year has been a clunker, as stocks entered a bear market in June. Volatility has now had an important presence in the market for six years: the last "normal" year for stocks was 2016, when the market climbed 12%. As we look to 2023, we see a stock market that is more likely to generate normal returns, even if volatility remains high. The start of the year may be difficult, as the Fed still hikes rates, the economy flirts with recession, and the Russian invasion of Ukraine continues. Earnings growth may be minimal in the first half, as margins are high and the consumer-led economy stalls a bit. At the same time, the Fed should be moving to the sidelines and interest rates at the long and short end are unlikely to climb as far and as fast as they did in 2022. This will help equity valuations, which already have come back from nosebleed levels in 2022. Indeed, the bond market often leads the Fed, and investors may be pushing long-term rates lower next year). Likewise, stocks historically have led the economy out of recession, typically bottoming during the middle of the pullback and then recovering. Given low level of unemployment, we don't think an economic recession in 2023 will be particularly long or deep, allowing for an earnings recovery in 2H23. As well, the third year of the presidential cycle historically is a strong year, as the party in power spends to generate electoral momentum. Our initial price target for the S&P 500 in 2023 is 4600, about 14% above current levels.
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