As we have reported recently, many of the top firms on Wall Street that we cover at 24/7 Wall St. have made some final tweaks and changes to their top stock picks lists that they provide to institutional and high net worth clients. With this year proving to be outstanding for investors, and the S&P 500 up double digits, now is a good time for investors to maybe shed some losers and add some new stocks for the stretch run and 2017.

In a new research note, Jefferies adds Newell Brands Inc. (NYSE: NWL), a top consumer goods stock, to the company’s prestigious Franchise Picks list. The stocks that make the list are the highest conviction calls from the analysts and are expected to outperform in the coming year.

Given the big sell-off in its shares since August, Newell Brands may be offering investors an outstanding value at current levels. This manufacturer and marketer of consumer products has six reporting segments, including the recently acquired Jarden. They are: Writing (Sharpie, Paper Mate, Waterman, Parker), Home Solutions (Rubbermaid, Calphalon, Goody), Tools (Irwin, Lenox), Commercial Products (Rubbermaid Commercial Products, Rubbermaid Healthcare), Baby & Parenting (Graco, Aprica) and Jarden (with 120 brands including Yankee Candle, Jostens, Oster, Sunbeam, Mr. Coffee, K2, Marmot, Rawlings, Coleman and First Alert).

The Jefferies report noted:

The stock is down ~17% from its mid-August highs and third quarter results were soft, but the analyst believes value triggers remain underappreciated, with a likely sales acceleration. The analyst models 4% versus Wall Street estimates for 3.5%. The analyst also sees upside from cost synergies, more acquisitions, and portfolio rationalization that could drive operating margins and the multiple. Jefferies is 10% ahead of consensus estimates for fiscal year 2018 earnings-per-share.

Newell Brands investors are paid a 1.67% dividend. The Jefferies price target on the stock is $63, and the Wall Street consensus price objective is $58. The shares traded at $45.55 on Tuesday morning.

In addition, here are the three highest dividend-paying stocks on the Franchise Picks list.

AbbVie

This is one of the top global pharmaceutical stocks picks across Wall Street. 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.

One of the biggest concerns with AbbVie is what eventually might happen with anti-inflammatory therapy Humira, which generated $14 billion in sales in fiscal 2015. That was the most any drug has recorded during a single year and represents a gigantic part of the company’s overall earnings. The problem is that biosimilars and generics are itching to enter the market with Amgen leading the charge, and some Wall Street analysts project that AbbVie may have a difficult time stopping that trend.

Back in May, the patent board instituted Coherus BioSciences’ Inter Partes Review against the Humira ‘135 patent. The outcome of the review is expected next year. While most analysts remain positive on Humira duration, the expected litigation uncertainty could continue to create an overhang on the stock, which does give investors chances to pick up shares lower.

AbbVie investors receive an outstanding 4.31% dividend. The Jefferies price target is $90, and the consensus target is $69.75. Shares traded on Tuesday at $62.85.

Boeing

This top aerospace industrial has been on a roll since the election and may be ready to breakthrough to multiyear highs. Boeing Co. (NYSE: BA), together with its subsidiaries, designs, develops, manufactures, sells, services and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services worldwide.

The company operates in five segments: Commercial Airplanes, Boeing Military Aircraft, Network & Space Systems, Global Services & Support, and Boeing Capital.

Recent reports indicate that the U.S. Navy plans to divest its older model F/A-18 Hornet fighter jets in coming years and hopes to buy dozens of F/A-18E/F Super Hornets to deal with a shortfall of strike fighters aboard its carriers. If implemented, the plan would provide dozens of new orders for Boeing and keep its St. Louis production line running for several more years.

Jefferies also see big value in the stock and said in a research note:

Boeing’s 30% dividend hike was 2 times what we had expected, although shares have declined since the announcement. The dividend yield is now ~1% higher than the average DJI yield and given that Boeing’s recent yield has been in the 3% range, we see significant upside to shares. Looking at core earnings and adding back 787 amortization, shares trade at just 13 times our 2017 estimates, in line with stable growers, while cyclical shares are carrying multiples above 20 times earnings.

Boeing investors are paid a 3.6% dividend. Jefferies has a $185 price objective. The consensus target is $156.50, and shares above that level early Tuesday at $157.85.

National Fuel Gas

This off-the-radar pick was added to the portfolio back in the fall. National Fuel Gas Co. (NYSE: NFG) is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas and oil assets across five business segments.

The analysts said this when they added the stock to the portfolio:

The analyst believes the company is in a unique position to have the Northern Access pipeline in New York approved and with that he lifted his some-of-the-parts analysis valuation to $67 from $60. Even without the Northern Access benefits, the company trades at ~16.3x fiscal 2017 earnings-per-share estimates and offers a 2.8% dividend yield, which is attractive relative to gas utilities, and in our view still leaves room for upside even without the pipeline.

Investors are paid a 2.8% dividend. The $67 Jefferies price target compares with consensus target of $64. The shares traded Tuesday at $58.05 apiece.

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A top new addition to the Franchise list portfolio and three additional dividend stocks that the Jefferies team views as their top high conviction picks. All these companies make good sense for aggressive long-term stock portfolios.

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