As the markets head into 2023, it’s time for a relook at the portfolio and for charting a strategy for the new year. My sense is that blue-chip stocks will continue to remain hot favorites. At the same time, selective growth stocks are likely to surge from undervalued levels. Among blue-chip stocks, it’s a good idea to consider undervalued dividend growth stock picks for 2023.
The key consideration in screening dividend growth stock picks for 2023 is the balance sheet and operating cash flows. The three companies discussed have an investment-grade balance sheet. Additionally, there is visibility for free cash flow upside in 2023. Even if cash flows are stable as compared to 2022, dividend growth is likely considering the overall financial flexibility.
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