Morningstar’s Chief U.S. Market Strategist Dave Sekera recently highlighted four stocks he still favors going into the new year. Each name reflects a different angle: from long-term growth to defensive value. Here is a quick look at the companies Sekera believes still offer opportunities in 2026, including biotech, software, finance, and energy.
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Biogen Inc.
Biogen Inc.(BIIB) is Morningstar’s high-risk, high-reward play. The focus is on Leqembi, its Alzheimer’s treatment. Morningstar sees strong early signs and expects global peak sales to reach around $3 billion.
The stock carries uncertainty but trades below fair value in their model. Morningstar also notes that other pipeline updates could lift the outlook.
Microsoft Corporation
Microsoft (MSFT) is a more stable option. Morningstar views Microsoft as a long-term core holding.
The company continues to expand in cloud and AI while keeping strong cash flow from core products.
It also provides a buffer during slower growth periods, which gives it added flexibility.
LPL Financial Holdings Inc.
LPL (LPLA) provides exposure to the wealth management sector. Morningstar raised the firm’s business rating this year due to high switching costs and improved returns. As markets rise, the company benefits from higher assets under management. In the long run, Morningstar expects advised assets to keep gaining share, supporting further growth.
Devon Energy Corporation
Devon Energy (DVN) rounds out the group as a value pick in the oil sector. Oil prices have been under pressure, but Devon is seen as one of the lowest-cost U.S. shale producers. Morningstar uses conservative oil price forecasts and still sees upside in the stock. It remains their top choice among domestic oil names.
One theme, four approaches
Although these stocks operate in very different areas, they share one key trait: they are all trading below Morningstar’s fair value estimate. Biogen carries more risk, while Microsoft offers long-term stability.
LPL sits in between with market-linked upside. Devon adds a contrarian edge with cost strength in a volatile sector.
As 2026 begins, Morningstar’s list reflects a balanced take on value, risk, and return potential.