5 Unstoppable Stocks to Buy for 2023
A new year beckons, and with investors looking to reposition their portfolios for 2023, here are five stock ideas for consideration. General Electric (NYSE: GE) is a value situation with the potential to surprise on the upside. United Parcel Service (NYSE: UPS) stock has been sold off due to near-term concerns, but underlying improvements in its business enhance its long-term earnings generation potential. nVent Electric (NYSE: NVT) is a play on electrification in the economy. Hexcel's (NYSE: HXL) composites are the future of the aerospace industry. Finally, industrial software company PTC (NASDAQ: PTC) is a play on digitization in manufacturing.
The industrial giant will start the year by spinning off its healthcare business, leaving a company composed of GE Power, GE Aerospace, and GE Renewable Energy. I think there's potential for all three remaining businesses to perform well this year. GE Aerospace has a backlog of more than $300 billion, and as supply chain issues ease through the year, it should ramp up aircraft engine production.
GE Renewable had a challenging 2022, but all the leading wind turbine manufacturers are restructuring, and order pricing is on a steady uptrend -- indicating the industry is in a bottoming process and moving toward profitability again. Finally, in the first nine months, GE Power orders are up 7% on an organic basis suggesting it has the potential to better the low-single-digit revenue growth rate that management has penciled in for 2022.
Source Fool.com
