CNBC’s Jim Cramer on Tuesday offered investors a collection of stocks he believes will do well this year.
All of his picks are listed on the Dow Jones Industrial Average.
“These companies make things or make a profit while returning capital to shareholders, all with fairly priced shares — the rubric for actually working once [Federal Reserve] declared war on inflation,” Cramer said.
Here is his list:
- Cramer said he believes the company will have a good year as long as crude prices stay above $60.
- He said he’s bullish on the stock because it has several divisions that could be separated to allow Honeywell to focus more on more profitable businesses.
- According to Cramer, the company is among the best when it comes to recession-proof stocks.
- He said the company is one of his favorite insurance plays.
- According to Cramer, the company has the best and fastest growing pharma business.
- He said he’s increasingly bullish on the stock since CEO Bob Iger returned to the helm.
- He added that American Express is a “tremendous bounce-back stock” that also sells at a reasonable price.
- Cramer said the company has proven It could do well going forward, and it’s only a matter of time before Wall Street follows suit.
- The peaking US dollar will help Salesforce’s balance sheet, he said, adding that he also likes the company’s “huge free cash flow, excellent cash flow and over 20% growth.”
- Cramer predicted that the company will do better this year than it did last year, even though IPOs, mergers and acquisitions are unlikely to make a comeback in 2023 as the economic environment remains turbulent.
Disclaimer: Cramer’s charitable trust owns shares of Honeywell, Procter & Gamble, Johnson & Johnson, Disney, Cisco and Salesforce.