Investors often seek out income stocks to hold forever, counting on the income to make up for a rocky market. The stock market’s steep drop incited panic, pressuring wary investors to sell the good companies along with the bad. Patient investors should take advantage of the market’s panic selling by scooping up income stocks at a discount. These companies’ ability to grow or sustain their market share in tough times is especially compelling.
Income stocks provide a buffer as the market tosses prices around: Bank of Montreal (BMO) – Strong quarterly results suggest positive momentum will continue into 2023. Best Buy (BBY) – Strong and loyal customer base will sustain long-term growth. Masco (MAS) – Strong quarterly results and outlook warrants buying for the long term. Prudential Financial (PRU) – Strong history in managing and growing assets. Royal Bank of Canada (RY) – Stock buyback and dividends are two reasons to hold forever. Verizon Communications (VZ) – Recent rebound is just the beginning as 5G post-paid subscriptions increase VICI Properties (VICI) – Closing two asset deals will lift the stock price.
Source: InvestorPlace
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