Are you looking for cheap stocks to buy before the market soars? If so, our market-beating analyst team recently revealed what they believe are the 5 best stocks for investors to buy in January 2023.[0] Bank of Nova Scotia, Equitable Group, Alimentation Couche-Tard, United Airlines (NASDAQ: UAL), Vertex Pharmaceuticals (NASDAQ: VRTX), Walmart (NYSE: WMT), Mastercard (NYSE: MCFT), Bristol-Myers Squibb (NYSE: BMY) and AbbVie (NYSE: ABBV) were not on the list.
Value stocks have lagged behind growth stocks for many years, but investors should consider stocks that capitalized on last year’s value comeback and may benefit from rising prices in the new year.[1] Suncor Energy (TSX: SU), Amazon (NASDAQ: AMZN), Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), Vertex Pharmaceuticals (NASDAQ: VRTX), and Open Text (TSX: OTEX) are five stocks that offer a combination of value, growth, and profitability.
United Airlines (NASDAQ: UAL) has been on an uptrend as it focuses on hiring to meet demand, is making a significant investment in its widebody aircraft to increase capacity, and posted excellent Q4 earnings.[1] Walmart’s (NYSE: WMT) total revenue increased 8.7% year-over-year to $152.81 billion in the fiscal third quarter that ended October 31, 2022.[2] Mastercard’s (NYSE: MCFT) EPS is expected to grow 11.2% year-over-year to $1.01 in the fiscal second quarter that ended December 2022.[3] Bristol-Myers Squibb’s (NYSE: BMY) revenue is expected to increase 1.7% year-over-year to $46.96 billion for the fiscal year ending December 2023.[4] AbbVie’s (NYSE: ABBV) revenue is expected to increase 3.9% year-over-year to $58.28 billion for the yet-to-be-reported fiscal year 2022.[3]
Suncor Energy (TSX: SU) is a cheap Canadian energy stock that trades at a mere 8.11 times earnings.[5]
0. “3 Undervalued Canadian Stocks Worth a Buy Right Now” Yahoo Canada Finance, 24 Jan. 2023, https://ca.finance.yahoo.com/news/3-undervalued-canadian-stocks-worth-093000587.html
1. “Top 5 Value Stocks for 2023” Seeking Alpha, 9 Feb. 2023, https://seekingalpha.com/article/4576698-5-top-rated-value-stocks-for-2023
2. “WMT: 3 Market-Crash-Ready Stocks to Buy Right Now” StockNews.com, 13 Feb. 2023, https://stocknews.com/news/wmt-ko-cnc-3-market-crash-ready-stocks-to-buy-right-now/
3. “The 5 Best Stocks to Invest $1,000 in Right Now” Entrepreneur, 3 Feb. 2023, https://www.entrepreneur.com/finance/the-5-best-stocks-to-invest-1000-in-right-now/444287
4. “BMY: Start 2023 out Right. Add These 2 Stocks to Your Portfolio Today” StockNews.com, 8 Feb. 2023, https://stocknews.com/news/bmy-gm-start-2023-out-right-add-these-2-stocks-to-your
5. “Worried About the Stock Market? These 3 Cheap Stocks Have Things All Buttoned Up” The Motley Fool Canada, 14 Feb. 2023, https://www.fool.ca/2023/02/14/worried-about-the-stock-market-these-3-cheap-stocks-have-things-all-buttoned-up/