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Buy these dividend-paying stocks as worries of a slowing economy linger, Wolfe says

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Investors should think of defensive themes, including dividend strategies, the firm said.

Investors preparing for an economic downturn can expect dividend-paying names to shine, and Wolfe Research highlighted a few names that are worth buying. Recessionary worries are back in focus after Federal Reserve Chair Jerome Powell warned last week that the central bank is "prepared to raise rates further if appropriate." His remarks were made at the Kansas City Fed's annual retreat in Jackson Hole, Wyoming .

In all, 10 out of 16 analysts covering CenterPoint rate it a buy or a strong buy, according to Refinitiv. Wall Street anticipates upside of 16%, based on the average price target. Select tech names also fit the bill. Skyworks Solutions , which pays a dividend yield of about 2.5%, is on Wolfe's list. Earlier this month, Harsh Kumar of Piper Sandler hiked his price target on the semiconductor stock to $125 per share from $107.

 

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