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Sit out the September roller coaster with these steady stocks

Chaim Potok by Chaim Potok
September 9, 2024
in Investing
Sit out the September roller coaster with these steady stocks
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A handful of stocks could provide smooth sailing for investors looking to ride out a historically volatile September. Stocks got off to a shaky start this month, with last week marking the worst performance since March 2023 for the S & P 500. Even though the market clawed its way higher on Monday, September is known as volatile stretch for investors and further swings could be ahead. The broad-based index has logged losses over the past four Septembers. Further complicating the market’s effort to break with historical precedent is the backdrop of the 2024 election. Some investors expect the final result will not be known on election night, further drawing out the process and the uncertainty that accompanies it. Against this backdrop, CNBC Pro screened for stocks that could be candidates to ride out an uneasy fall, abiding by the following criteria: Stocks maintain a beta below 1, indicating low volatility Shares have advanced more than 13% year-to-date, beating the broader market Average analyst price targets imply at least 10% ahead You can search for more stocks and customize this screen here, or make your own using the CNBC Pro Stock Screener Tool . Eli Lilly made the list. Shares have advanced about 55% in 2024, and analysts polled by LSEG forecast nearly 11% upside ahead for the pharmaceutical stock. What’s more, the stock touts a low beta of roughly 0.44. The company’s second-quarter results easily surpassed Wall Street estimates last month, and it boosted its full-year revenue forecast on the back of strong demand for its diabetes treatment Mounjaro and its weight loss drug Zepbound. LLY YTD mountain Eli Lilly stock. TJX also made the low volatility list thank to its beta of 0.88. Shares of the T.J. Maxx and Marshalls parent have advanced roughly 25% in 2024. The retailer has found success wooing a more cost-conscious consumer away from discounters like Target. The company upped its full-year earnings forecast on the heels of stronger-than-expected second-quarter results. TJX executives also noted plans to increase its presence globally with a $360 million stake in Brands for Less. TJX YTD mountain TJX Companies stock. Analysts polled by LSEG forecast more than 12% upside ahead for TJX stock. Other low volatility names on the list include Omnicom Group and Kroger .



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