3 Stocks Bullish Traders Tend To Fall In Love With

Regardless of the Fed’s repeated interest rate increases this year, inflation has shown no signs of slowing down. August’s CPI came in hotter than expected, cementing the view that the Fed will raise interest rates aggressively. Therefore…

recession fears are rising.

As the United States, China, and the Eurozone have been experiencing an economic slowdown, the World Bank anticipates that the world might be edging toward a global recession. World Bank’s President David Malpass worries that the persisting market trends could lead to devastating consequences for emerging markets and developing economies. He said, “Global growth is slowing sharply, with further slowing likely as more countries fall into recession.”

Despite the expected market volatility, staying invested in quality stocks might help generate solid returns in the long run. Therefore, it could be wise to buy stocks of The Coca-Cola Company (KO), AbbVie Inc. (ABBV), and Merck & Co., Inc. (MRK). Strong fundamentals and solid growth prospects of these stocks could keep bullish traders engaged in them.

The Coca-Cola Company (KO)

KO is a beverage company that manufactures, markets, and sells various non-alcoholic beverages globally. It sells its products under brands: Coca-Cola, Sprite, Fanta, Diet Coke, Coca-Cola Zero Sugar, Thumbs Up, Aquarius, fairlife, Minute Maid Pulpy, and Simply, among others.

On June 13, 2022, the company announced a global relationship with Brown-Forman Corporation to debut the iconic Jack & Coke cocktail as a branded, ready-to-drink (RTD) pre-mixed cocktail option. This should be widely in demand, given its brand popularity.

KO’s net operating revenue increased 11.8% year-over-year to $11.33 billion in the second quarter that ended July 1, 2022. Its gross profit grew 2.4% from the year-ago value to $6.49 billion, while its non-GAAP net income improved 4.4% year-over-year to $3.06 billion. The company’s non-GAAP EPS increased 2.9% from its year-ago value to $0.70.

Analysts expect KO’s EPS and revenue to increase 6.3% and 4.9% year-over-year to $0.48 and $9.94 billion, respectively, in its fiscal fourth quarter (ending December 2022). It surpassed the consensus EPS estimates in each of the trailing four quarters.

TOP 10 STOCKS FOR THE YEAR AHEAD

Over the past year, the stock has gained 10.2% to close the last trading session at $59.99.

KO’s strong fundamentals are reflected in its POWR Ratings. The stock has an overall B rating, which equates to Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.

It has a B grade for Stability, Sentiment, and Quality. The stock is ranked #22 of 36 stocks in the A-rated Beverages industry. Click here to see the other ratings of KO for Growth, Value, and Momentum.

AbbVie Inc. (ABBV)

ABBV is engaged in developing, manufacturing, and selling pharmaceuticals globally. It offers its products in various categories: immunology, oncology, neuroscience, eye care, and women’s healthcare. The company markets its products to wholesalers, distributors, government agencies, health care facilities, and independent retailers.

On September 19, 2022, the company received a positive CMHP opinion for Risankizumab (SKYRIZI®) for treating adults with moderate to severe Crohn’s disease who have had an inadequate response and lost response or were intolerant to either conventional therapy or a biologic agent. This approval should…

Continue reading at STOCKNEWS.com

 

You May Also Like

About the Author: admin