‘Trade war heroes’ can thrive as tariffs look set to rise, says Evercore ISI

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‘Trade war heroes’ can thrive as tariffs look set to rise, says Evercore ISI

Evercore ISI has its eyes on a collection of defensive stocks that the investment bank says are well positioned to ride out any trade war. President Donald Trump on Sunday announced his latest plan for tariffs, this time on steel and aluminum imports , regardless of their country of origin. Trump later signed an executive order to impose 25% tariffs on steel and aluminum. The European Union shot back late Monday , with European Commission President Ursula von der Leyen saying , “Unjustified tariffs on the EU will not go unanswered — they will trigger firm and proportionate countermeasures” in the form of retaliation against the U.S., adding yet another element to rising global trade tensions. The steel and aluminum duties follow blanket tariffs aimed at all goods from Canada, China and Mexico, with higher tariffs on China effective Monday and those on Canada and Mexico postponed for a month. China retaliated with its own tariffs on U.S. imports shortly after Trump’s plan was announced. The trade war has added worry to financial markets that are already concerned over persistent inflation and how the duties might slow slow the U.S. economy and harm profits. Against that background, Evercore ISI searched for stocks that are in the top 20% of companies with the lowest volatility, that have a strong buyback profile and that score well for efficiency, using “asset turnover and equity turnover.” Stocks in the group had to be members of the Russell 3000, with a market capitalization of at least $5 billion. Here’s a look at some of the stocks that turned up on Evercore’s list, all of which are rated outperform by the firm. Apple made the list. Shares have advanced almost 21% over the past year through Monday, despite falling 9% so far in 2025. The iPhone maker offers relatively low volatility and a history of repurchasing stock. Apple in May of last year authorized $110 billion in stock buybacks , the largest ever for a public company and up from $90 billion the year before. AAPL 1Y mountain Apple stock over the past year. Evercore ISI analyst Amit Daryanani highlighted in a late January note that the company’s potential expansion in emerging markets could help offset a sales slowdown in China. Daryanani also pointed toward a rise in iPhone SE demand that could prove a catalyst for growth in Apple’s current quarter. AbbVie also showed up on Evercore ISI’s screen. The maker of the Humira treatment for arthritis and psoriasis has risen 9.3% over the past year, underperforming the S & P 500, and pays a 3.44% dividend. ABBV 1Y mountain AbbVie shares over the past 12 months. Last week. the Food and Drug Administration approved AbbVie and Pfizer’s Emblaveo to treat complicated intra-abdominal infections. Other stocks on the Evercore ISI screen included MetLife and drug wholesale company Cencora , known until last summer as AmerisourceBergen. — With reporting by CNBC’s Jesse Pound

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