Due to the uncertain nature of the markets at the moment, it's difficult to find high conviction even among professional investors.
With more interest rate hikes coming and no one knowing precisely when inflation might abate, many investors are holding their fire.
So in this environment, it's refreshing to see an expert stick their neck out and actually provide an opinion.
There was one such instance this week when a particular S&P/ASX 200 Index (ASX: XJO) share was named as one that could rocket next year:
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Is this the stock that everyone's forgotten about?
Fairmont Equities founder Michael Gable reckons shares for biotechnology giant CSL Limited (ASX: CSL) are poised to head up.
"I think longer term, this is looking very good," he told Switzer TV Investing.
"In some ways, CSL might have dropped off people's radar because since the COVID lows [the share price] hasn't really done anything. There's been a lot of other stocks and opportunities out there."
Indeed, CSL closed Wednesday at $276.96, which is still some way off its pre-pandemic high.
Even in recent times, the share price has dropped more than 7.5% since early September.
But the healthcare company reported decent results in August and last week outlined how its Vifor acquisition will boost its fortunes.
Gable has noticed that after two long years of volatility, the CSL share price has started to stabilise in recent weeks.
"It bottomed in February… and now it's starting to outperform the broader index."
Can history repeat?
If CSL can gain some momentum, according to Gable, 2023 could be very fruitful for shareholders.
"You could see CSL with a four in front of it potentially by the end of next year, if it breaks out."
If the stock price can reach the $400s, that would mean a roughly 50% gain from current levels.
Gable pointed to a similar situation in the pre-COVID era that could be seen as a precedent for now.
"If we go back to 2018 when we had rate hikes, CSL, being a growth stock, was under pressure."
But then the US Federal Reserve reversed its stance and declared it would be cutting, not raising, rates in 2019.
"[But] as soon as we got that Fed pivot… in 2019 CSL basically put on about 50%! So it could really get going."
Gable is not the only one noticing CSL's potential.
Both Citi and Wilsons have named it recently as one to watch for a post-pandemic rally.
According to CMC Markets, 14 out of 18 analysts currently rate the stock as a buy.
