Morningstar and Susan Dziubinski have named three stocks they believe are smart value plays heading into 2026. Each company earns a wide economic moat rating from Morningstar, indicating it holds a strong market position that is likely to endure.
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Campbell Soup
First is Campbell Soup Company (CPB). Dziubinski views the company as undervalued, supported by well-known brands and a shift toward snacks. Campbell Soup has worked to improve supply and factory operations, which allows more spending on products and marketing. Although prices and competition are still a challenge, Morningstar expects slow and steady sales growth in the years ahead.
Bristol-Myers Squibb
Next is Bristol-Myers Squibb Company (BMY). The drugmaker has a strong list of products and a healthy research pipeline. However, patents on several top-selling drugs will expire through 2028, which puts about 47% of revenue at risk. Dziubinski believes newer drugs and stronger cost controls will help offset some of the impact and values the stock at $66 per share, with room to grow if the market regains confidence in future sales.
Constellation Brands
Last is Constellation Brands Inc. (STZ), which owns beer brands such as Modelo and Corona in the U.S. Dziubinski gives it a wide moat based on product strength and deep ties to distributors. While beer demand has cooled in recent quarters, the company is launching low-calorie and flavored products to appeal to new shoppers. Morningstar values the stock at $220 per share and expects growth to pick up as demand trends shift.
