In the wake of a successful 2023, it may be wise to consider shifting towards some overlooked consumer defensive stocks as we enter the new year. Growth-to-value rotations can unfold in unexpected ways, sometimes gradually and at other times suddenly, causing a bit of concern.
Using TipRanks’ Comparison Tool, we will explore three intriguing consumer defensives that could have a promising year ahead, even if 2024 does not match the success of 2023.
Colgate-Palmolive (NYSE:CL) has seen sluggish performance in recent years but has gained momentum recently, with a 14% increase from October 2023 lows and a new bullish rating from a Bank of America analyst. With a strong portfolio of recession-resistant essentials and positive sentiment from Wall Street, Colgate-Palmolive appears poised for success in the coming year.
Mondelez, a confectionary company, has rebounded from previous setbacks and is expected to continue growing despite potential challenges from weight-loss drugs impacting demand for its products. With a focus on organic growth and brand strength, Mondelez remains a promising investment going into 2024.
Celsius Holdings, a leading energy drink company, has shown impressive growth and is expected to continue expanding its market share in the coming year. Analysts are optimistic about Celsius’ future potential, projecting significant growth between 2023 and 2027.
In conclusion, while consumer staple stocks may not be the most glamorous investments, they offer stability and potential for growth in uncertain economic times. Of the three highlighted stocks, analysts see the most upside in Celsius Holdings stock for the year ahead.