Prominent market commentator Jim Cramer has recommended five stocks from the Nasdaq Index that he believes could be decent additions to investors portfolios.
In an index thats been folded, spindled and mutilated, I am still feeling good about a few of these stocks, Cramer said according to a CNBC report.
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The Nasdaq Composite has lost over 31% in the last year. Despite the fact the index is heavy with tech stocks that got hit last year, it still has names that could perform well even in a recessionary environment, Cramer said.
Following are his five picks:
1. T-Mobile Us Inc TMUS : The market expert expects the company to continue gaining market share from competitors.
2. Regeneron Pharmaceuticals Inc REGN : Cramer believes that Regeneron has got a broad pipeline with ridiculously cheap stock. I think its a really, really excellent situation, especially if youre expecting a severe recession, he said according to the report.
3. PepsiCo, Inc. PEP : Cramer pointed out that PepsiCo rivals Procter & Gamble Co PG in terms of the best consumer packaged goods company in the U.S.He, however, acknowledged the stocks valuation is slightly higher than what he would like.
4. American Electric Power Company Inc AEP : The market expert said he likes the stock because the firm is well-run, and utility stocks tend to perform well in periods of economic slowdowns.
5. Dollar Tree Inc DLTR : While Cramer likes the stock in comparison to other retailers listed on the index, the expert said he still prefers TJX Companies Inc TJX .
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