Walmart and Exxon Mobil identified as top stocks during market correction

On March 16, 2025, Evercore ISI released a list of recommended stocks for investors navigating significant market volatility in the U.S. The report highlighted that the S&P 500 had officially entered a correction phase, having declined over 10% from its record close, while the Nasdaq Composite remained in correction territory. Amid increasing concerns regarding inflation and unpredictable tariffs imposed by President Donald Trump, investors have been anxious about the market's future. In this tumultuous environment, Evercore ISI has categorized several companies as 'all-weather outperformers.' Among the stocks recommended are Walmart and Exxon Mobil, both of which, according to analysts, are currently undervalued in relation to their solid underlying fundamentals. Walmart, in particular, has been favorably placed due to its appeal during inflationary periods and rising grocery prices. In recent months, the retailer has continued to increase dividends, marking its 52nd consecutive year of hikes despite a year-to-date decline of 5.5%. Notably, Walmart's shares have still risen around 40% over the past year, underlining its resilience. Another highlighted company is Chipotle, which is experiencing a significant stock price drop of around 17% this year, categorized as another 'all-weather' pick. Evercore ISI has set a price target of $72 for Chipotle, indicating a potential increase of nearly 44% in the next year. The firm noted that the recent drop in Chipotle's stock price has made it an attractive buying opportunity, particularly because it effectively manages tariff risks due to minimal sourcing from Mexico. Besides Walmart and Chipotle, CVS Health has also received strong recommendations. The pharmacy chain saw its stock rise by 48% this year, significantly outperforming its competitors and the broader market. Investors have expressed optimism regarding CVS's ability to achieve its adjusted earnings outlook for the full year of 2025 while implementing cost-saving measures. With a target price from Evercore ISI set at $80, CVS is seen as having an additional upside of 21.8% from its recent close. Overall, these 'all-weather' stocks represent potential opportunities for investors despite ongoing market challenges brought on by external economic factors.