Investing

BofA Securities Warns of 5% to 10% Sell-Off: 5 Safe Dividend Stocks to Buy Now

Comcast

This top media and entertainment company remains a Wall Street favorite, and it is on the BofA Securities US 1 list. Comcast Corp. (NASDAQ: CMCSA) is the largest U.S. provider of cable services, with over 22 million basic subscribers. It owns NBCU, which includes the NBC TV Networks, Telemundo, MSNBC, USA, Syfy, Bravo, E!, CNBC and several other cable networks, as well as Universal Films and Universal Theme Parks.

Comcast has invested in technology to build an advanced network that delivers among the fastest broadband speeds and brings customers personalized video, communications and home management offerings.

Recently, the BofA analyst that covers the company noted with vaccinations beginning, Comcast shares are poised to outperform, driven by solid cable and improving NBCU/SKY results. The firm has modestly tweaked the fourth-quarter estimates and adjusted the firm’s 2021 estimates, and it also anticipates the NBCU segment to be recast in 2021.

Holders of Comcast stock receive a 1.88% dividend. BofA Securities recently lifted the price target to $62 from $53. The $53.64 consensus target is near the most recent close at $53.23 a share.

Valero Energy

This Wall Street favorite is a very solid energy play for investors who are more conservative. Valero Energy Corp. (NYSE: VLO) is one of the largest independent petroleum refining and marketing companies in the United States. It is based in San Antonio, Texas; owns 13 refineries in the United States, Canada and Europe; and has a total throughput capacity of around 2.5 million barrels per day.

Valero also is a joint venture partner in Diamond Green Diesel, which operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel is North America’s largest biomass-based diesel plant.

Valero sells its products in the wholesale rack or bulk markets in the United States, Canada, the United Kingdom, Ireland and Latin America. Approximately 7,400 outlets carry Valero’s brand names.

Investors receive a 6.07% dividend. BofA Securities analysts have set a $76 price target. The consensus target is lower at $66.88, and Valero Energy stock closed on Thursday at $64.55 per share.


If we do have a 5% to 10% correction, most everything will trade lower to some degree. However, these liquid mega-cap blue chips will fare much better than momentum darlings’ that are massively overpriced and overbought. They make sense for more conservative growth investors looking for a little shelter from the potential proverbial storm.

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