With recession fears mounting for 2023, Bank of America has small-cap picks it expects will be resilient in a downturn — and even have some upside.
Given this, Bank of America picked out 35 of its best small- and mid-cap ideas for 2023, including one e-commerce stock called Xometry that's expected to roughly double from here.
These names could rise 24% on average, based on their 12-month price targets, according to the note.
Xometry , an online marketplace for industrial parts, will roughly double to its $60 price target, according to Bank of America.
Meanwhile, Planet Fitness will benefit in a recession, as consumers trade down from higher-priced gyms, the bank said.