Our 24/7 Wall St. research team did some digging, and we came up with a statistic you won’t find hard to believe. The current bearish sentiment numbers from American Association of Individual Investors stand at 45.53%. That is up from 36.26% on January 7 and is the highest reading since 2013. That means that almost half of all investors are bearish, and the day-to-day negative tape sure indicates that. While the gut reaction is to sell, the right thing to do now is to start to nibble and buy.

The Wall Street firms we cover are well aware of investor anxiety, yet they, unlike financial media talking heads, realize investors can’t just go to cash with a snap of their fingers. A recent Jefferies research note had some solid growth stock buys for investors looking to test the waters some. We found four that make good sense now, and all are rate Buy.

AbbVie

This is one of the top global pharmaceutical stocks at Jefferies and is also on the Franchise Stock Picks list. AbbVie Inc. (NYSE: ABBV) is a global, research-based biopharmaceutical company formed in 2013 following separation from Abbott Laboratories. The company’s 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. AbbVie employs more than 26,000 people worldwide and markets medicines in more than 170 countries.

The stock fell 10% in late October after an FDA warning about liver risk with the company’s hepatitis C (HCV) products. However, Jefferies points out that this applies to a small sub-population of cirrhotics who are 5% or less of the total patient population. Additionally, 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. The company announced last week that the supplemental New Drug Application (sNDA) for Viekira Pak to be used without ribavirin (RBV) has been accepted by the FDA with priority review.

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 announced last week that the U.S. Patent officials denied a challenge by Amgen over AbbVie’s Humira formulation patents. Jefferies also feels that the likelihood of success in gaining a preliminary injunction to prevent Amgen’s Humira biosimilar from reaching the U.S. market is now almost 100%. The firm expects this to delay other biosimilars entering the U.S. market for up to 2.5 years.

AbbVie investors receive an outstanding 4% dividend. The Jefferies price target for the stock is $85, among the highest on Wall Street. The Thomson/First Call consensus target is $73.13. Shares closed Thursday at $58.36.
Coach

This consumer discretionary stock is fighting its way back after getting annihilated last year. Coach Inc. (NYSE: COH) is a leading New York design house of modern luxury accessories and lifestyle brands. The Coach brand was established in New York City in 1941 and has a rich heritage of pairing exceptional leathers and materials with innovative design.

Coach products are sold worldwide through Coach stores, select department stores and specialty stores, and through company’s website. In 2015, Coach acquired Stuart Weitzman, a global leader in designer footwear, sold in more than 70 countries.

The stock was a favorite for years before getting absolutely hammered in 2015. Many Wall Street analysts have upgraded the company recently. The Jefferies team note that many of the headwinds the company faced last year should dissipate in 2016, and the holiday season seems to have been right on track. They are also 10% ahead of Wall Street for fiscal 2017 earnings per share estimates.

Coach investors receive an outstanding 4.29% dividend. The Jefferies price objective is a whopping $50. The consensus target is $37.42, and the shares closed Thursday at $32.47.

Smucker

If there was ever a consumer goods stock that can withstand a market onslaught, it is this old-time favorite. J.M. Smucker Co. (NYSE: SJM) manufactures and markets branded food products worldwide. It markets its products under the Folgers, Dunkin’ Donuts, Smucker’s, Jif, Crisco, Pillsbury, Millstone, Cafe Bustelo, Hungry Jack, Eagle Brand, Magnolia, Robin Hood, Five Roses, Santa Cruz Organic, R.W. Knudsen Family, Meow Mix, Milk-Bone, Kibbles ‘n Bits, Natural Balance, 9Lives, Pup-Peroni, Gravy Train, Nature’s Recipe and other brand names.

Jefferies notes that the recently expanded distribution agreement of Dunkin’ K-Cups into the grocery channel could represent an incremental $300 million or so in sales by 2017. This effectively would double the size of Smuckers single-serve business. The firm also anticipates that the acquisition of Keurig Green Mountain also will serve as a modest positive for growth in the single-serve market overall.

Investors receive a 2.25% dividend. Jefferies has a $140 price objective, and the consensus price target is $131.45. Shares closed most recently at $119.26.

Wingstop

Wingstop Inc. (NASDAQ: WING) had a solid IPO in 2015, but the stock has sold off, leaving investors an outstanding entry point. The company franchises and operates restaurants under the Wingstop name that specialize in cooked-to-order, hand-sauced and tossed chicken wings. As of May 06, 2015, it operated approximately 750 restaurants in the United States, Mexico, Russia, Singapore, the Philippines and Indonesia.

The analysts note that the company already pre-announced positive numbers for the most recent quarter. They also point to the solid unit growth, which was 19% for the year, with same-store-sales of 5.9% for the quarter. Online ordering is growing smartly and carries a 25% increase in the check. They also are fans of the tech play along with a unique brand that’s differentiated in customers and real estate.

The $28 Jefferies price target is lower than the consensus of $30.71. The stock closed Thursday at $25.54.

All these top growth stocks to buy at Jefferies present far less risk to investors than high-volatility momentum companies. Those stocks are being shelled now if for no other reason that many investors have huge gains. These can slide nicely into a growth portfolio with much less volatility risk.

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