These 3 Big Winners in 2022 Can Soar Again in 2023
Shares in aerospace and defense giant Raytheon Technologies (NYSE: RTX), advanced composites manufacturer Hexcel (NYSE: HXL), and multi-industry conglomerate Honeywell International (NASDAQ: HON) are in positive territory so far in 2022, with the former two up mid-teens and Honeywell up by low single digits. That makes them big winners compared to an S&P 500 index that's down 17.3% for the year.
However, now isn't the time to take profits because all three have plenty of potential to do very well in 2023. Here's a look at each.
The case for Raytheon is relatively simple to understand and comes in two parts. First, its commercial aerospace-focused businesses will benefit from an ongoing recovery in flight departures. Raytheon's two commercial aerospace-focused segments, Collins Aerospace and Pratt & Whitney, have significantly exceeded expectations this year. Still, there's potential for more growth in 2023 as the recovery to 2019 levels (and beyond) builds. That's excellent news for the aftermarket business.
Source Fool.com
