Getting your Trinity Audio player ready...
As the markets continue to be volatile amidst recessionary pressures and pressure of high-interest rates, more and more investors are now looking into the possibility of investing in blue chip stocks. These are long-standing companies with a proven track record and it is only natural for these companies to attract attention at times of uncertainty. Now that the quarter three fiscal results are about to be announced for many, here is a look at three blue-chip stocks that may experience a bump.
Lockheed Martin (NYSE:LMT) – The aerospace and arms company is one of the more well-known blue chip stocks at this point in time and could well be an option for investors. It is a company that not only offers strong dividends to investors but has continued to generate capital gains as well. Since the defense sector continued to enjoy positive tailwinds, the forward price-to-earnings ratio of 14 could well prove to be attractive to many investors.
On the other hand, not too long ago, Lockheed Martin also bumped up its dividend by as much as 7.1% to $3 a share. Raising dividends at a time of market volatility may also have led to considerable popularity for the stock. It is a stock that could well be added to the watch lists at this point in time.
Costco International (NASDAQ:COST) – The inflationary situation may be a curse for many retailers but one of the companies that may still continue to be a winner in the sector is Costco International. The stock ended up with gains of $466 a share yesterday and has shown considerable strength over the past year as it traded without many fluctuations.
Jeffries has set a price target of $610 a share on the stock. It is a resilient retail company and one that may prove to be a blue-chip winner in these turbulent times.
NIO (NYSE:NIO) – Last but not least, it is the Chinese electric vehicle manufacturer NIO which may well be one of the major blue chip companies which may end up attracting attention following its Q3 earnings. In the previous quarter the company recorded a year-on-year rise of 29.3% in terms of electric vehicle deliveries and it is expected to perform strongly in the third quarter as well.