The 11 best stocks to own for 2023

Bank of America analysts have outlined 11 key stock picks for investors in the new year. They believe the year could be a tale of two halves, a recession and a recovery. John Lynch, chief investment officer for Comerica Wealth Management, recommends value stocks over growth during economic turbulence.  Strong free cash flows and healthy balance sheets are the name of the game in times of economic rockiness.

Fox Corp. is positioned for tailwinds from its recent sports betting vertical. Bank of America projects that the stock will be on the road to recovery in 2023. Farm equipment distributor is a stock to buy based on its balance sheet, domestic sale numbers and environmental, governance, and social (ESG) rating.

Walmart is a high-quality stock with a favorable ESG rating from Bank of America. Shares currently trade at $143.6 as of January 3.

The 11 best stocks to own for 2023 are Exxon Mobil Corporation, XOM, which is currently trading at $106. Bank of America projects that ExxonMobil has the highest upside potential in 20th century.

Arch Capital Group Ltd. is in Bank of America’s Alpha Surprise Screen. The company is a beneficiary from lowered interest rates. Shares trade at $62.46 as of January 3.

Humana Inc. is a health insurance firm. It has a high-quality rating from Bank of America and is trading at $500.49 per share.

Bank of America recommends Honeywell International, Analog and others as good investments for 2023. HON is considered a 20% discount within the information technology sector due to its high value.

Bank of America recommends fertilizer company Mosaic as a buy due to its market position and high ESG rating. Shares currently trade at $42.63.

Welltower Inc. has strong dividend yields, high quality ratings and positive ESG ratings. Bank of America projects that senior housing provider Welltower has recovery ahead after pandemic-induced losses.

Duke Energy Corporation is Bank of America's pick within the utilities sector. The company has a defensive dividend yield and positive ESG ratings.