3 Winning Stocks to Buy No Matter What the Market Is Doing

Right now is the perfect time to think about stocks to buy during any market environment. Why? Because we’ve had a recent example of how quickly things can change. Concerns about the economy and the pandemic weighed on the market — after months of solid gains. The Dow Jones Industrial Average climbed more than 15% from the start of the year through Aug. 31. Then it slipped 4% in the first three weeks of September.

So, what makes an all-around winning stock to hold onto during good times and bad times? I look for companies with a strong sales and/or profit track record. I also like companies that sell essential goods or services. And finally, I’ll go for companies that have built a strong brand and relationship with customers. Let’s look at three stocks that fit the bill.

1. Target

Target (NYSE:TGT) posted an exceptional performance during the worst of the pandemic. The company’s recipe for success? First, its array of essential items — available in store and online. Add to that its options for contactless pickup and delivery. The result? Target’s sales last year grew by $15 billion — that’s more than in the previous 11 years combined.

But here’s the best part. The company continued to post sales growth — and growth of its pickup and delivery services — even after shoppers returned to usual shopping habits. By that, I mean going to physical stores and buying items beyond the essentials. In fact, in the most recent quarter, sales in all product categories climbed. The high-margin category of apparel even posted double-digit sales growth.

Target makes shopping easy for consumers who like to shop in store and those who prefer an online platform. That means the retailer can attract both kinds of customers. Importantly, a lot of guests opt for both — and Target says these multi-channel guests end up spending four times more than store-only customers and ten times more than online-only shoppers.

The company’s plans should keep customers coming back: Target is investing $4 billion annually to remodel stores and strengthen fulfillment and the supply chain.

Target shares are trading at about 18 times forward earnings. That’s a steal considering Target’s revenue growth — and potential for more on the horizon.

2. Abbott Labs

I like Abbott Laboratories (NYSE:ABT) for the diversity of its businesses — and their growth. Abbott’s nutrition, diagnostics, medical devices, and pharmaceuticals businesses each posted double-digit revenue gains in the most recent quarter. And Abbott’s annual revenue and net income both have been on the rise for the past few years.

Since the early days of the pandemic, diagnostics have led to even more revenue for Abbott. That’s because the company sells several coronavirus detection tests — including the rapid BinaxNOW. These tests generated $2.4 billion in sales in the fourth quarter of last year, for example.

Of course, testing demand may ebb and…