Pro: buy these three stocks to ride out the market volatility

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on Jun 2, 2022
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  • Victoria Fernandez says volatility will continue through the balance of 2022.
  • She picked three stocks to ride out volatility on CNBC Worldwide Exchange.
  • The Crossmark Global Investments' expert doesn't see a recession this year.

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U.S. equities will remain volatile through the balance of 2022 but it’s unlikely that the economy will plunge into a recession this year, says Victoria Fernandez. She’s the Chief Market Strategist at Crossmark Global Investments.

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To ride out the volatility, Fernandez recommended the following three quality names this morning on CNBC’s “Worldwide Exchange”.

CH Robinson Worldwide Inc (NASDAQ: CHRW)

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The Fortune 200 company reported market-beating results for its fiscal Q1 in April. The stock has recovered completely from its year-to-date low, but Fernandez is convinced there’s more to come.

With supply chain issues, CH Robinson in the transportation space is a name that we have really liked. They continue to see margin expansion.

CVS Corp (NYSE: CVS)

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For the sake of a diversified portfolio, her second pick is in the healthcare space. CVS Corp is still down more than 15% from its year-to-date high, which, as per Fernandez, spells opportunity.

A lot of people thought of CVS as a COVID play. But they have growth across all their sectors. They’re beating their industry peers. They’ve raised the dividend; a bit over 2.0% and they’ve got buybacks coming.

MetLife Inc (NYSE: MET)

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Lastly, she’s also bullish on a “financial” name that Wall Street also agrees could be a $77 stock versus $66 at present. Explaining why she recently bought the NY-headquartered life insurance company, Fernandez said:

MetLife has got a strong balance sheet; the cash flow is really good. It’s now the third largest vision care provider and that’s a very capital light business. So, cash flow is good that should help in volatile markets.

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