Top 15 Stocks to Buy and Hold for the Rest of 2023 as Wall Street Roars Ahead

investing.com:

Stocks on Wall Street have been on a tear since the start of the year as signs of cooling inflation fueled bets the Federal Reserve is nearing the end of its tightening cycle while a recent batch of upbeat economic data helped ease recession fears.

U.S. stocks posted strong gains for the first half of 2023, with the tech-heavy Nasdaq Composite surging 31.7% to record its best six-month start to a year since 1983. The benchmark S&P 500 is up 15.9% for its best first half since 2019.

Meanwhile, the blue-chip Dow Jones Industrial Average is the relative underperformer, up just 3.8%.

By leveraging the InvestingPro stock screener's robust features — including advanced filters, and comprehensive financial metrics — investors can identify stocks with the potential for significant growth, strong fundamentals, and favorable market trends.

I first scanned for companies with an InvestingPro Overall Score greater than or equal to 3.0. Financial health score values range between 0.0 to 5.0 and very roughly translate to a company’s percentile ranking in its sector according to the InvestingPro models.

It should be noted that companies with InvestingPro health scores higher than 2.75 have consistently outperformed the broader market by a wide margin over the past seven years, dating back to 2016.

I then filtered for stocks that displayed the InvestingPro Overall Health Label, InvestingPro Profit Label, and an InvestingPro Growth Label of either ‘Excellent’, or ‘Great’.

The InvestingPro financial health label benchmark is an advanced stock ranking system that considers over 100 metrics pertaining to the company's profitability, growth, cash flow, and valuation. Value is one of ‘excellent’, ‘great’, ‘good’, ‘fair’, or ‘weak’.

Finally, I