Analysts at Bank of America unveiled this week a slew of must-own stocks for 2023. The firm said these companies are attractive and offer defensive characteristics in a time of uncertainty. CNBC Pro combed through recent research to find Bank of America’s ‘best-in-class” stocks heading into next year. They include: JPMorgan Chase , Eli Lilly , Bumble, Broadcom and O’Reilly Automotive. Bumble “A highly regarded brand in an ultra-competitive industry,” is how analyst Nat Schindler described the dating app company this week. The firm started coverage of Bumble with a buy rating, saying it has strong fundamentals with room for multiple expansion. Schindler also said the company is somewhat of a safe haven stock in the event that consumer spending decreases. While Match remains at the forefront of dating industry apps, Schindler said Bumble has the chops to quickly close the gap. “BMBL has grown its US & Canada market share by +19ppts since 2017 with potential to replicate its success internationally through best-in-class marketing and product innovation,” he wrote. Shares are down 32% this year and are attractive at current levels, the firm said. “We think the company presents a strong medium-term investment case given healthy margins along with opportunities to enter and develop markets,” he said. JPMorgan Chase Analyst Ebrahim Poonawala is feeling more bullish about shares of JPMorgan Chase heading into 2023. The firm recently met with JPMorgan Chase management and came away confident that the stock has plenty more room to run. Poonawala said the banking giant is firing on all cylinders, naming a host of attractive characteristics that the firm said should be attractive to every investor. They include “credit defensibility, a diversified revenue mix, market share opportunities, differentiated tech strategy, internal capital generation,” among others. Taken together, the firm sees these catalysts as key “drivers of superior earnings growth and stock performance” next year and beyond. In addition, management’s execution has been “top notch” and impressive. Shares are down over 18% this year, but Poonawala upped his price target to $145 per share from $132. “While the stock has significantly outperformed peers QTD, we consider JPMorgan as best-of-breed for investors looking to maintain/add exposure to bank stocks,” he said. Eli Lilly The pipeline is robust and growing quickly for the biopharma company, according to analyst Geoff Meacham. “Although 2022 has…
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