After the first week of trading for 2016, many investors are feeling pretty queasy as we head into earnings season with the big banks leading off this week. With the S&P 500 now trading at levels that the index hit back in October after the big 10% summer-early fall correction, it may be once again time to buy the dip.

One good idea for investors is to look at the very best ideas that Wall Street firms have to offer. In a new research note, Jefferies makes the case that earnings could give a lift to the sagging market, and with low expectations, the lift could be solid. We screened the firm’s Franchise Picks list for the highest yielding dividend stocks. We found four that make good sense for investors now.

AbbVie

This is one of the top global pharmaceutical stocks at Jefferies. AbbVie Inc. (NYSE: ABBV) is a global, research-based biopharmaceutical company formed in 2013 following separation from Abbott Laboratories. Its mission is to use its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world’s most complex and serious diseases.

The stock fell 10% in late October after the FDA warning about liver risk with the company’s hepatitis C (HCV) products. However, Jefferies points out that the next generation HCV product could be launched as early as 2017, and even of the entire Viekira Pak/Technivie business were lost over the next two years, it represents only 4% of net percentage value.

AbbVie announced last week that the supplemental New Drug Application for Viekira Pak to be used without ribavirin has been accepted by the FDA with priority review. The company is looking to get the product’s label expanded for use without ribavirin, for the treatment of patients with genotype 1b chronic HCV and compensated cirrhosis (Child-Pugh A).

For the third quarter, AbbVie reported a profit of $1.24 billion, a significant increase from the $506 million it earned in the same quarter of 2014. The company’s sales increased by 8.40% year over year to $5.94 billion.

AbbVie investors receive an outstanding 4.1% dividend. The Jefferies price target for the stock is $85, among the highest on Wall Street. The Thomson/First Call consensus target is much lower at $73.80. Shares closed Friday at $55.65.

AT&T

AT&T Inc. (NYSE: T) posted very solid third-quarter numbers, and many on Wall Street think the fourth quarter will be good as well. It is the world’s largest provider of pay TV, with TV customers in the United States and 11 Latin American countries. In the United States, the AT&T wireless network has the nation’s self-described strongest 4G LTE signal and most reliable 4G LTE.

The company also helps businesses worldwide serve their customers better with mobility and highly secure cloud solutions. With shares trading at a very cheap 11.9 times estimated 2016 earnings, the company continues to expand its user base, and strong product introductions from smartphone vendors have not only driven traffic but increased device financing plans.

AT&T reiterated 2015 guidance for double-digit revenue growth and continued consolidated margin expansion. Management expects capital spending to increase sequentially and also estimates that free cash flow could be better than $4.5 billion. Third-quarter wireless subscriber additions came in higher than many Wall Street estimates, and DirecTV saw positive video additions where many expected losses.

The company announced last week it is working with Salesforce.com to connect Internet of Things data from AT&T’s solutions into Salesforce’s Customer Success Platform. By connecting AT&T M2X into Salesforce’s Service Cloud, companies can automatically create and route service requests, cases or tickets through pre-built workflows.

AT&T investors receive a huge 5.72% dividend. Jefferies has a $40 price target, while the consensus target is $37.16. Shares closed Friday at $33.54.
Boeing

Shares of this top aerospace industrial have dropped a whopping 15% in less than a month. Boeing Co. (NYSE: BA) has traded all over the place in the past year and now may be ready to perk up. Together with its subsidiaries, Boeing designs, develops, manufactures, sells, services and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services worldwide.

Jefferies has increased confidence in continuing good demand and notes that Boeing recently has made announcements that support the thesis the productivity and margins will continue to improve. 787 execution is good as the company works through the backlog, and cash flow looks to be strong with 787 deliveries and C-17 orders. Some Wall Street analysts also point to low oil prices as a bullish indicator for the top carriers that are Boeing’s big customers.

With positive order flow, much of which was announced recently, investors may have the best opportunity to buy this blue chip defense and aerospace leader that they will get all year.

Boeing investors receive a 3.35% dividend. The $185 Jefferies price target is higher than the consensus target of $163.72. Shares closed on Friday at $129.99.

WestRock

Last summer saw the merger of two top packaging and containers companies that could provide an outstanding opportunity for investors, as the stock has been absolutely mauled since the merger. WestRock Co. (NYSE: WRK) is the completed and merged entity that combined old Rock-Tenn and MeadWestvaco. WestRock becomes the second-largest U.S. packaging company, valued at $10.7 billion, trailing only International Paper with a market capitalization of just under $15 billion. WestRock is expected to generate net sales of $15.7 billion and adjusted EBITDA of $2.9 billion. This includes the impact of $300 million in estimated annual synergies, to be achieved over three years.

Jefferies noted that WestRock announced a stock repurchase program of 40 million shares, equal to 15% of the shares outstanding. It also announced a very generous 17% increase in the company dividend. The current dividend will be $1.50 per share, or 0.375 cents per quarter.

Late last year the company saw a flood of investment from some of the top hedge funds, with as many as 41 adding the stock to their portfolios.

WestRock investors will receive a very tempting 3.58% dividend. The Jefferies price target is $74, The consensus target is $70.56, and shares closed Friday at $63.75.

While the landscape looks scary, the bottom line is of all the indexes around the world, the S&P 500 may very well be the best performing this year. Investors with some dry powder should start to wade in and scale some in, buying the top companies.

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