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Sand Hill Global Advisors’ Brenda Vingiello laid out her top stocks for 2023 Wednesday afternoon on CNBC’s “Fast Money Halftime Report.” Here’s a look at her three best ideas for the year.
Walt Disney Co DIS shares are down approximately 40% over the last year, which could set it up for outperformance in 2023, considering Bob Iger returned to the helm, she said.
“When we look at this company and look at the assets that it has, they are absolutely unmatched,” Vingiello said.
Over the next couple of years, she expects Iger to help push the company’s streaming business into profitable territory.
“I know it’s been a disappointment, but when we look at what could work in 2023, we think Disney could in this environment,” Vingiello said.
Boeing Co BA was also among Vingiello’s top picks for the year. The planemaker’s stock is up more than 50% over the last six months.
“I know it’s controversial given the huge move it had recently, but when we look out to 2023, we think we are in the earlier stages of an aerospace cycle and Boeing should absolutely benefit from that,” she said.
Related Link: JP Morgan Thinks Boeing Is Riding The Momentum
Vingiello told CNBC that CVS Health Corp CVS is another one of her top picks.
“This is a company that’s really well positioned within value-based care, which we think is gonna be an incredibly relevant topic within health care for many years to come,” she said.
Vingiello noted that CVS has a fully integrated business model with lots of embedded growth opportunities embedded. The company could also make some acquisitions in 2023 to further build out its model, she added.
“I really think this is a solid company within the space. Also should be relatively defensive no matter what the economy is doing, especially given the value focus,” Vingiello said.
DIS, BA, CVS Price Action: Disney was up 0.8% at $96.33 at the close Wednesday; Boeing was up 0.64% and CVS was down 0.97%, according to Benzinga Pro.
Photo: Leslin_Liu from Pixabay.
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Image and article originally from www.benzinga.com. Read the original article here.