Citi says buy 3 stocks tied to the consumer for the same reasons we own them
Tide, a laundry detergent owned by the Procter & Gamble company, is seen on a store shelf on October 20, 2020 in Miami, Florida.
Joe Raedle | Getty Images
Procter & Gamble (PG), Estee Lauder (EL) and Constellation Brands (STZ) can navigate any economic slowdown in the short term while offering long-term growth opportunities, according to Citi in a new research note. The bullish call on these consumer-tied companies aligns with our view and comes as defensive stocks have fallen out of favor in 2023, with many investors instead piling into beaten-down tech names.