Small caps will be large this year, says Jefferies. Here are 10 buy ideas

Small-cap stocks could beat their large-cap counterparts in 2023, according to Jefferies. Equity strategist Steven DeSanctis said small-cap stocks have cheap relative valuations while volume has slid, high-yield spreads have tightened and cyclicals have been sold off. He said investors are incorrectly pivoting to secular growth in an attempt to follow the 2020 recession playbook. Expectations are low with poor sentiment for small caps, DeSanctis said.

"We think there are many laggards that could bounce back, hence we looked for Buy rated names that also ranked well across our eight factor blocks." Here are 10 names that made the list: Education stock Chegg has lost more than 26% this year. On Monday, the company announced CheggMate , the platform's new artificial intelligence companion that was built with GPT-4.

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