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Here are Wolfe's favorite stocks as market approaches fresh record

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'While we expect continued choppy trading in the market, we expect companies with solid fundamentals to outperform,' Wolfe Research's Chris Senyek said.

Wolfe Research has a selection of favorite long-term stock ideas to weather the stock market's summer volatility. Recent market action has been unpredictable, as the three major U.S. indexes climbed to records in July, followed by a steep global sell-off in early August and a recent rebound rally.

Bernstein analyst Richard Clarke, who has a $118 price target on Expedia, thinks the company can grow volumes faster than other online travel agencies even with rising competition. Expedia has adjusted its business model to focus more on business-to-business sales and its core brands, which has helped the company adapt to competition while leading to margin pressure, Clarke said. Walgreens is another long-term favorite that popped up on Wolfe's screens. The stock has 25.

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