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Stocks hit by coronavirus worries but analysts say buy: Apple, Nike

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Apple Inc. CEO Tim Cook attends China Development Forum (CDF) 2018 at the Diaoyutai State Guesthouse on March 24, 2018 in Beijing, China. China Development Forum (CDF) 2018 is hosted by the Development Research Center of the State Council of China on March 24-26 in Beijing.

Visual China Group | Getty Images

The coronavirus continues to cause investor anxiety and market uncertainty, but Wall Street analysts told clients this week there’s still plenty of quality stocks to own.

CNBC combed through recent Wall Street research to find where analysts see buying opportunities amid the epidemic. The stocks include Apple, Qorvo, Kontoor Brands, Synopsys, ON Semiconductor, and Nike.

Kontoor Brands

Kontoor, the maker of Lee and Wrangler jeans, is likely to see some effect from the virus but the company’s growing global platform should keep it fairly insulated from any long-term damage according to one analyst.

“Despite the likelihood, near term, of transitory headwinds related to the coronavirus, we think KTB remains well positioned to achieve its ’20 and ’21 financial targets,” Susquehanna analyst Sam Poser said.

The firm also said the company’s strong management is another reason clients should own the stock.

“Patience is a virtue, and a stable strong dividend pays investors to wait,” he said.

The stock was down over 7% on the week.

Nike

Shares of Nike are down more than 4% over the last month, but Morgan Stanley says it’s still a great time to buy.

“Store closures will impact 3Q20 China…



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