Here are 5 quality ‘election-proof’ stocks with upside potential, analyst says

More pertinently to financial markets, Tuesday also is the date of the U.S. election. Pre-election nerves have definitely been on display this week, though markets also have had to contend with a fresh European lockdown and the impasse in U.S. stimulus talks.

Simon Property Group SPG, -2.28%, the shopping mall operator, is a more surprising pick. But Trainer says its net operating profit after tax, at current pricing, is expected to permanently drop 50%. In the last recession, its NOPAT fell 12% in 2009 and bounced back nearly 37% in 2010. The bricks-and-mortar retailers that survive, such as Williams-Sonoma WSM, -3.30%, will do so stronger than ever, with less competition, as he says the stock is worth $99 in a moderate economic recovery.

Allstate Corp. ALL, -0.45% is his final pick, and he notes the property-and-casualty insurance industry hasn’t been strongly impacted by the pandemic. He cites Allstate’s disciplined underwriting, as well as the long-term demand for automobile insurance.Thursday night saw U.S. technology giants report their gargantuan earnings, though investors reacted differently to the results.

Amazon AMZN, -3.88% reported a stronger-than-forecast third-quarter profit and revenue, though its fourth-quarter profit forecast lagged behind analyst expectations. Major oil companies Exxon Mobil XOM, -2.04% and Chevron CVX, +0.77% both reported third-quarter losses as oil prices fell but beat analyst estimates on adjusted earnings.

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