J.P. Morgan research suggests the probability of a U.S. recession in 2025 is dropping below 50% from its 60% peak, now that the Trump administration is pulling punches on some of its more aggressive tariff policies, allowing the S&P 500 to rebound after dipping into correction territory back in March. However, the risk is still high. 

But don’t worry — recessions and crashes do not necessarily spell doom for your portfolio. 

Instead of trying to time the market perfectly or panic-selling during downturns, which usually leads to missed opportunities, you should look for companies more likely to weather economic storms and come back stronger once the dust has settled. 

Here are three of them.

1. Walmart (WMT)

Walmart (NYSE: WMT) thrived during the last two recessions, and no wonder — we need groceries, even when the economy is nothing to write home about. 

The company finds itself in a uniquely favorable position in this regard. Namely, in times of economic slowdown, its reputation for affordability draws in budget-conscious customers, while its large footprint allows it to absorb market shocks with minimal friction.

What’s more, around two-thirds of Walmart’s inventory is produced in the U.S., which gives the retailer quite a bit of cushion amidst rising global trade tensions. 

Sure, the WMT stock plummeted 6% amid rising tariff fears earlier this year, but over the past year, Walmart has delivered a 47% return compared to the mere 10% delivered by the S&P 500.

Accordingly, analysts remain upbeat about its prospects, suggesting a slow but steady increase in the coming months.

2. HCA Healthcare (HCA)

HCA Healthcare (NYSE: HCA) is the largest non-governmental hospital chain in the U.S.

While not all sectors of the healthcare industry are resilient during economic downturns, those related to critical care tend to be.

Indeed, HCA managed to deliver solid results during the COVID-19 pandemic and inflationary pressures during the last half a decade, boasting a +236.97% growth and targeting a 29% market share by 2030. 

Moreover, Cantor Fitzgerald raised its price target on HCA from $405 to $444 on May 21, 2025, reflecting its confidence in the hospital chain’s long-term growth outlook and implying a potential 16% upside from the stock’s previous closing price.

3. Waste Management (WM)

WM (NYSE: WM) is a waste collection and recycling company that has seen a +135.87% growth in the past five years, as the demand for its services does not go down during recessions.

In fact, the waste management industry as a whole is on a solid growth trajectory, expected to grow at a compound annual growth rate (CAGR) of 5.4% by 2030, given the increased adoption of advanced recycling and collection technologies, environmental awareness, and population expansion.

Recently, JPMorgan price target evaluations for WM likewise signaled renewed optimism about the company’s growth prospects. 

The projections included a valuation of roughly 16x forward-year EV/EBITDA and a free cash flow yield of 3%,

These numbers are a solid addition to WM’s 10.77% revenue growth over the past 12 months and 21 years of consistent dividend increases.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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