Companies in sectors that balance growth and yield, such as information technology, industrial and materials firms, are well-positioned to take advantage of current market conditions, say analysts at Bank of America Merrill Lynch. With that in mind, a few stocks to consider:
IT consulting and services firm Cognizant Technology Solutions (CTSH (opens in new tab), $72) is ramping up its highly profitable digital business, which helps clients with cloud computing, analytics and cybersecurity. Customer contracts tend to be long-term, leading to steady cash flows and a solid balance sheet.
A strong economy should help FedEx (FDX (opens in new tab), $221), which recently extended its ground shipping operation to six days a week, year-round. The company’s recent investments in technology have made the firm’s package sorting more efficient.
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Chemicals firm Ashland Global Holdings (ASH (opens in new tab), $75) produces solvents and resins, as well as specialty ingredients used in paints and other products. Ashland has boosted sales and profitability this year in the specialty-ingredients business, which accounts for about two-thirds of overall revenue.
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