Four stocks to weather out the storm: Tom Lee

Early losses not enough to lower full-year forecasts: Tom Lee
Early losses not enough to lower full-year forecasts: Tom Lee   

Stocks showed signs of life early Friday after posting their worst ever start to a year this week. But the sharp moves weren't enough to deter one of the biggest bulls on Wall Street, who maintains his claim that the S&P 500 could rally to 2,300 by the end of 2016.

On CNBC's "Fast Money," Fundstrat Advisors' Tom Lee said Thursday despite the global jitters, his bull case remains intact.

"Nothing has changed," said Lee. "The market is highlighting concerns over the same issues we've seen in recent months." He identified the factors impacting the market as oil, the dollar, high yield bonds, China and the Fed. "It's all coming to a roost in 2016," but, "I don't think [the things that are weighing on the market right now] are changing the thesis of the year," added Lee.

While Lee admitted he doesn't know exactly when the sentiment will improve, he did offer four stocks that have the potential to weather the storm of a gloomy market.

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"One of the things that we see as a strategy for 2016 is to really look at stocks that are trading like bonds, which means that their dividend yield is above their bond yield," he said. Lee cited Wal-Mart, Caterpillar, Cisco and General Electric as four names that are cheap relative to their bonds.

"It's notable that last year Wal-Mart was one of the biggest drags on the S&P 500 based on point contribution," said Lee. Shares of Wal-Mart were down nearly percent in 2015, but have shined in 2016, rallying 6 percent this week as of Thursday's close. "That's similar to how Google and Amazon were the big point drags in 2014, who became big stars in 2015."

Lee added that rather than chase the high-flying F.A.N.G. stocks in 2016 — Facebook, Netflix, Amazon and Alphabet —investors should note that "it's all about value outperforming and stocks are the new bonds."

Disclosure: Lee does not own any of the stock he has recommended.