The market plunge appears to be accelerating again, driving down the share price of the proven Steady Eddies. With various market strategists at big banks calling for a downside amid continued Fed rate hikes, it’s hard to find anything optimistic. It’s getting harder to maintain a certain relief rally.
In this article, we’ll check out three very different stocks that Wall Street still has confidence in. According to current analyst estimates, each stock is expected to rise at the end of the year, possibly much higher.
So let’s use Take a closer look at these stocks using TipRanks’ comparison tool We are entering a turbulent spring.
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Costco is a wholesale retailer that has been very resilient amid inflation and economic headwinds. Inventories have been very sluggish over the past year, despite drawing crowds with low-cost essentials that many are eager to bulk buy. But the stock took a bit of a hit. Anyway, I’m bullish on the name in the long run.
As a defensive growth juggernaut with one of the best managers and a value proposition, Costco stock deserves a premium over its peers.it is currently trading at 35.2x trailing price/profit (P/E), but I would argue that COST is an interesting play that can be powered through economical hand landings. Few companies can thrive in such a tough environment. Costco is one of them.
With the recession and lingering inflation weighing heavily on the company, Costco appears to be well positioned. The company’s membership renewal rate is nearly 93% in the US and Canada, and he’s 90.5% worldwide. These rates are new highs for the company. I think rates like this are going up because either lingering inflation or the impact of the recession on spending will drive price seekers back to Costco for deals.
Looking further ahead, legendary investor Charlie Munger hopes Costco’s expertise translates very well online. The man has previously said the company will become an “internet giant,” and he’s not ruling out a digital push that could drive further growth over the next decade.
What is the target price for COST stocks?
Wall Street has a “strong buy” with 18 buys and 5 holds.of Average COST Stock Price Target $555.61 represents a 17.9% upside.
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Visa is the payment king, hovering near its pre-pandemic 2020 highs. Indeed, stocks are sluggish as the economy appears to be tipping into recession. Despite macro headwinds, Visa continues to beat profit expectations over the last few quarters. Even with the uncertainties ahead, Visa looks likely to stay strong. Therefore, I am bullish.
In the latest quarter, cross-border volumes saw a staggering 31% increase thanks to the continued recovery in travel. Even if the recession slows the near-term travel recovery, Visa is poised to take advantage of what could be a further advance in travel demand.
It’s hard to tell where consumer spending will go from here, but Visa has the financial capacity to capitalize on opportunities in this area and add to its already sizable payment moat. In recent years, Visa has been aggressive in acquisitions. As fintech valuations continue to fall, Visa must think it can continue trading or even pick up the pace.
At the time of writing, the stock is 31.4x increase in closing revenueThis is the lower end of the historical range. Even if the Visa stock breakout is delayed by a few quarters, you can’t miss the name here.
What is your target price for V shares?
Analysts have a “strong buy” rating of 20 purchases, 1 hold and 1 sale on Visa.of Average V Stock Target $261.29 means 20.9% upside potential.
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JD is a Chinese e-tailer not for the faint of heart. Stock prices will crash after peaking in 2021, Subsidence up to 65%As the stock approaches new lows against the backdrop of a modest guide, the question remains as to whether JD is still a worthy growth addition after last year’s technology debacle. I am bullish, but I have many concerns.
Starting with good news JD just finished a strong fourth quarter EPS was $0.69, well above consensus expectations of $0.51. But despite higher earnings, full-year guidance surprised investors.
For a while, JD seemed to signal a big turnaround for China’s economy. Now, it looks like consumer spending will take even longer to pick up speed after last year’s painful lockdowns.
JD CEO Lei Xu said China’s spending recovery was “disproportionate.” Either way, on the other side of a potential global recession, I think JD will find a footing again if Chinese consumers finally experience a greater recovery.
With 14.2x expected earnings and 0.4x sales (52% lower than the sector median), JD stock is a relative bargain in e-commerce, supporting a bullish case. However, there are risks. China’s uneven recovery and geopolitical risks are key question marks for value investors to consider.
What is your target price for JD stock?
Again, analysts rate JD highly, giving it a ‘strong buy’ rating based on 11 buys and 1 sell.of JD Average Stock Price Target $73.29 represents an 81.1% upside.
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Conclusion
If the market takes a few steps back again, investors may have a chance to pick up their favorite blue chip stocks at slightly better prices. Indeed, there are a lot of fears in the market right now and the best deals are when investors tend to sell before asking the question. Wall Street likes all three stocks and is the most bullish on JD.