33 best stocks to buy to start off 2023 as prices fall

The firm's analysts broke down valuations for each sector heading into the new year.With markets staring down a, 2023 may seem off to a bleak start. But according to Morningstar's chief US market strategist Dave Sekera, investors can still afford to keep their hopes up.

Based on an analysis conducted with over 700 stocks, Sekera believes that the market is currently trading at a price/fair value ratio of 0.84, which translates to a 16% discount against true value. Even though he forecasts upcoming market turbulence and economic stagnation in the first half of 2023, Sekera still believes this discount justifies an entry point for investors.

At a 30% discount, consumer cyclicals remained the second-cheapest sector, with apparel, travel, and leisure making up the three cheapest industries, according to sector director Erin Lash. Healthcare and real estate stocks also seem undervalued, trading 11% and 25%, respectively, below fair price estimates.

Valuations of industries within the basic materials sector were mixed, with building materials companies more expensive, while stocks within the agriculture and forest products industry and the chemicals, metals, and mining industries trading at a discount.

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