Jim Cramer says he likes these 5 Nasdaq stocks for 2023

CNBC’s Jim Cramer on Thursday gave investors a list of stocks that he believes could be worthwhile additions to investors’ portfolios.

All of his picks are listed in the Nasdaq Composite. While the index is heavy with tech stocks that were hammered last year, there are still names that could perform well even in a recessionary environment, according to Cramer.

“In an index that’s been folded, spindled and mutilated, I am still feeling good about a few of these stocks,” he said.

Here are his picks:

T-Mobile

• Cramer said that he expects the company to continue taking market share from competitors.

Regeneron Pharmaceuticals

• “Regeneron’s got a broad pipeline with a ridiculously cheap stock. I think it’s a really, really excellent situation, especially if you’re expecting a severe recession,” he said.

PepsiCo

• The beverage giant rivals Procter & Gamble when it comes to the best consumer packaged goods company in the U.S., he said, though he acknowledged that the stock’s valuation is a bit higher than he would like.

American Electric Power

• Cramer said that he likes the stock because the company is well-run, and utility stocks tend to perform well during economic slowdowns.

Dollar Tree

• While he does like the stock compared to other retailers listed on the Nasdaq, Cramer said that he still prefers TJX Companies.

Disclaimer: Cramer’s Charitable Trust owns shares of TJX Companies.