Jefferies Recommends These 3 Defensive Stocks Amid Recession and Inflation

In this article, we will look at 3 defensive stocks Jefferies’ analysts are recommending amid recession and inflation. If you want to explore similar stocks, you can also read  Jefferies Recommends These 6 Defensive Stocks Amid Recession and Inflation.

3. Dollar General Corporation (NYSE:DG)

Number of Hedge Fund Holders: 53

Dollar General Corporation (NYSE:DG) operates as a discount retailer and provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. The company has over 18,000 discount stores spread throughout the United States. Jefferies analysts are bullish on Dollar General Corporation (NYSE:DG) and see the stock outperforming other stocks during a tough macroeconomic backdrop.

On June 16, Morgan Stanley analyst Simeon Gutman raised his price target on Dollar General Corporation (NYSE:DG) to $250 from $225 and upgraded the stock to Overweight from Equal Weight. On July 5, Cleveland Research upgraded Dollar General Corporation (NYSE:DG) to Buy from Neutral.

At the end of Q1 2022, 53 hedge funds held stakes in Dollar General Corporation (NYSE:DG) worth $2.25 billion. This is compared to 44 positions in the previous quarter with stakes worth $2.20 billion. The hedge fund sentiment for the stock is positive.

In the first quarter of 2022, Orbis Investment Management raised its stakes in Dollar General Corporation (NYSE:DG) by 11% and brought them to $519.28 million. The fund owns over 2.3 million shares of the company and is the largest shareholder.