Regardless of what happens these days, the market seems to push higher. Interest rates shooting up? No problem. Energy and other prices are skyrocketing? Buy the dips and forge ahead. Political wrangling over immigration and economic policy are unresolved? No sweat. The gains continue almost unabated, thanks to continued excess central bank provided liquidity, a huge increase in retail trading volume and the constant flow of money into passive index and exchange-traded funds. The top stocks that influence the indexes just keep pushing everything higher.

The reality is a sell-off is probably coming, and while it doesn’t necessarily mean a market crash, it could mean a fast and furious 10%, 15% or even 20% bear market territory drop. We have been looking for ideas that could stand up best in a swift sell-off, and the group known as the sin stocks may be just the ticket for worried investors.

Some portfolio managers really don’t want to discuss sin stocks in their portfolios. These are companies that sell tobacco and alcohol products or run gambling casinos. They are in sex-related industries or are weapons manufacturers, and now even marijuana producers. While at the margin they don’t all seem sinful, some money management companies refuse to own any of them.

We screened the BofA Securities research database for companies that fall into this rather dubious category and found five stocks that look like outstanding values. They are all rated Buy and should hold up well, even in a protracted bear market. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.

Altria

This maker of tobacco products offers value investors a great entry point now and was hit recently as cigarette sales have slowed. Altria Group Inc. (NYSE: MO) is the parent company of Philip Morris USA (cigarettes), UST (smokeless), John Middleton (cigars), Ste. Michelle Wine Estates and Philip Morris Capital. PMUSA enjoys a 51% share of the U.S. cigarette market, led by its top cigarette brand Marlboro.

Altria also owns over 10% of Anheuser-Busch InBev, the world’s largest brewer. In March 2008, it spun off its international cigarette business to shareholders. In December 2018, the company acquired 35% of Juul Labs, and it has purchased a 45% stake in cannabis company Cronus for $1.8 billion.

Shareholders receive a 7.64% dividend. BofA Securities has a $53 price target on Altria stock, and the consensus target is $48.33. The stock closed on Tuesday at $47.15 a share.

If any company has products that stay in style, it is this one, which only has 7% foreign sales. Constellation Brands Inc. (NYSE: STZ) is a leading global producer and marketer of beverage alcohol. Its wide-ranging portfolio spans wine, spirits and imported beer.

The company is one the world’s largest wine companies overall and is the largest global premium wine company. Key brands include Robert Mondavi, Clos du Bois, Blackstone, Arbor Mist, Black Velvet and SVEDKA vodka. It also owns 100% of the rights to brew, market and sell Modelo’s Mexican beers in the United States.

Constellation Brands made a gigantic $3.8 billion investment in cannabis company Canopy Growth in 2018 to increase its holdings in the company. The record investment reflects a world in which marijuana has become ubiquitous as its counterculture stigma fades and more states legalize use.

Investors in Constellation Brands stock receive a 1.39% dividend. The BofA Securities price target is $275, while the consensus target is $266.09. The final trade for Tuesday was reported at $218.84 per share.

Diageo

This another spirits company, and one of the largest producers of alcoholic beverages in the world. Diageo PLC (NYSE: DEO) produces, markets and sells alcoholic beverages worldwide, including scotch whiskey, gin, vodka, rum, beer, Irish cream liqueurs, wine, Raki, tequila, Canadian and American whiskey, Cachaça and brandy, as well as adult beverages and ready to drink products. The company’s premium brands include Johnnie Walker, Smirnoff, Captain Morgan, Baileys, Tanqueray and Guinness.

Its reserve brands include Johnnie Walker Blue Label, Johnnie Walker Green Label, Johnnie Walker Gold Label 18-year-old, Johnnie Walker Gold Label Reserve, Johnnie Walker Platinum Label 18-year-old, John Walker & Sons Collection, Johnnie Walker The Gold Route, Johnnie Walker The Royal Route and other Johnnie Walker super-premium brands, as well as The Singleton, Cardhu, Talisker, Lagavulin and other malt brands.

Shareholders receive a 2.04% dividend. The $195 BofA Securities price target compares with the $184.57 consensus target, which is lower than Tuesday’s close at $193.23.

This is one of the top aerospace and defense stocks to buy, and it has backed up nicely for investors looking to buy shares. Lockheed Martin Corp. (NYSE: LMT) researches, designs, develops, manufactures, integrates, operates and sustains advanced technology systems, products and services. It also provides a wide range of defense electronics products and IT services.

Being the Pentagon’s prime contractor, Lockheed Martin offers a diverse portfolio of global aerospace, defense, security and advanced technologies. Its leveraged presence in the Army, Air Force, Navy and IT programs guarantees a steady inflow of follow-on orders, not only from the U.S. government but also from many foreign allies of the nation.

Over the past several years, Lockheed Martin’s backlog has substantially outgrown the rest of the industry, supporting the growth outlook for the foreseeable future. The company has exposure to Department of Defense priority buckets and consistently executes well. Even if the end-market growth rate slows, analysts expect continued strong fundamentals, with compounding earnings and cash flows.

Investors receive a 3.13% dividend. BofA Securities has set its price objective at $500. The consensus target is $422.72, and Lockheed Martin stock closed at $358.12 on Tuesday.

VICI Properties

This is the top pick across Wall Street in the net lease group, and it is an ideal stock for investors who are more conservative and looking for gaming exposure. VICI Properties Inc. (NYSE: VICI) is a triple net lease real estate investment trust (REIT) that was spun out of Caesars Entertainment post-bankruptcy.

The company has 23 mixed-use gaming, lodging and entertainment properties in its portfolio, and a subsidiary that owns four championship golf courses. VICI also owns roughly 34 acres of undeveloped land in Las Vegas, which it leases to Caesars.

Much of the focus this year was on VICI’s recent deal to acquire the real estate of the Venetian Resort in Las Vegas, with Apollo as a new tenant. Looking ahead, many on Wall Street are very positive on VICI’s embedded growth pipeline with Caesars Entertainment, including a put/call on the Centaur properties in Indiana (starting in January 2022) and a right of first refusal on a strip asset sale for Caesars, which could occur soon after a full earnings before interest, taxes, depreciation, amortization and restructuring or rent costs recovery.

Investors receive a 4.85% distribution. The BofA Securities price target is $36. The consensus target for VICI Properties stock is $34.89. Shares closed trading on Tuesday at $29.69 apiece.

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No one should invest in something they personally oppose. However, for investors not bothered by these industries, they may have solid portfolio potential and typically, even if the economy gets rocky, they are able to hold their own. With the current market at stratospheric levels, it may make sense to shift some dollars to these solid companies.

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