3 Relatively Safe Stocks to Buy if a Recession Is on the Way
We don't have a modern-day Paul Revere riding a horse through the streets shouting that a recession is coming. But we don't need one, as there are plenty of economists, analysts, and even the Federal Reserve warning that a recession is likely in 2023.
But just because a recession may be on the way, investors don't have to abandon the stock market. Here's why three Motley Fool contributors think that (NYSE: ABBV), Gilead Sciences (NASDAQ: GILD), and Johnson Johnson (NYSE: JNJ) are relatively safe stocks to buy if a recession is declared this year.
Prosper Junior Bakiny (AbbVie): It may be hard to believe that AbbVie is a safe stock right now. The company's shares recently took a tumble following poor first-quarter results. AbbVie's revenue and earnings dropped during the period. But that's something investors surely expected -- the drugmaker lost U.S. patent exclusivity for its blockbuster rheumatoid arthritis medicine, Humira, this year.
Source Fool.com
AbbVie Inc. Stock
The stock is an absolute favorite of our community with 34 Buy predictions and no Sell predictions.
At the moment AbbVie Inc. has reached the predicted target price of 181 €, with a current price of 179.3 €.