As economic uncertainty grows, investors can look at these defense stocks to beat the Street.
As market uncertainty grows with the ongoing banking crisis, investors can look to certain stocks to beat the Street when there are stressful conditions. Investor confidence has wavered following the collapse of Silicon Valley Bank and Signature Bank . The Cboe Volatility index , Wall Street's preferred fear gauge, reached a level not seen since late 2022 and neared territory considered highly risky .
Utilities company PG & E made the list of biggest risers amidst instability on the Street, with a median 4.6% gain. Analysts are bullish on PG & E shares, with eight out of 13 analysts covering the stock giving it a buy rating. The average price target for the stock is $18.73, implying 17.8% upside from Friday's close price. Shares have dropped 2% in 2023, but have rallied almost 42% during the past 12 months. The two energy groups on the list are Coterra Energy and EQT .
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