Stocks are see-sawing — they surged in January after a bear market year, then tumbled last week. Investors are digesting U.S. inflation numbers, observing the the direction of consumer prices, and anticipating the size of a possible recession. As sentiment turns a little bearish, BofA screened for cheaper global stocks that proved resilient during the financial crisis of 2008. BofA strategist Paulina Strzelinska said in a Feb.
The 17 stocks that turned up in BofA's screen were mostly in health care, food and beverage, and utilities. Here are four of them: German pharmaceutical giant Bayer : Its stock, which is up around 23% in the year to date, jumped and hit an eight-month high last week after it announced former Roche executive Bill Anderson as its next CEO. According to FactSet, analysts covering the stock gave it average potential upside of around 23%, and 62% rated it a buy. U.K.
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