Here are Credit Suisse's best offensive and defensive plays in the wild market climate

Published Fri, Mar 6 20208:12 AM ESTUpdated Fri, Mar 6 20208:53 AM EST

(This story is for CNBC Pro subscribers only.) Its been a volatile week for stocks as uncertainty around the coronavirus reigns. Credit Suisse is recommending clients think both offensively and defensively given the roller-coaster week for stocks. More than 1,000 point swings in the Dow Jones Industrial Average have been commonplace this week as investors digest a spike in coronavirus cases in the U.S., an emergency rate cut from the Federal Reserve and results from Super Tuesday. The Dow lost 950 points on Thursday, the S & P 500 dropped 3.3% and the Nasdaq Composite fell 3.1%. All three major averages are in correction territory, meaning they are more than 10% off their most recent high. Credit Suisse's HOLT team created an offensively minded list of stocks to find quality firms that are down significantly in the past week. The screen identifies companies that have lost at least 9% since Feb. 27, are inexpensive verses history and earn more than 10% cash flow return on investment. Media companies Viacom, Fox are Tenga are all cheap compared with historical levels, the firm noted. Payments company Fleetcor Technologies and IT services company DXC Technology are also expected to rebound from these depressed levels. Additionally, Credit Suisse created a defensively minded list of stocks that the firm considers high quality with low risk. These stocks have a lower beta than their peers in each relative sectors. Companies with a lower beta are low volatility stocks, less tied to the whims of market swings. "This framework represents an attractive bucket of firms for investors seeking low risk characteristics and high quality/resilient business models," Credit Suisse HOLT technology sector specialist John Talbott said in a note to clients. Coca-Cola, PepsiCo, Unilever, Verizon and Merck & Co. all make Credit Suisse's defensive list. Coca-Cola, has a beta of 0.62, meaning on a day the S & P 500 drops 1%, the soda company would only drop 0.62%. Coca-Cola is also a high quality stock, estimating organic revenue will grow by 5% and adjusted earnings per share will increase by 7% in 2020. Wireless provider Verizon has a very low beta of 0.5. Verizon also pays a generous 4.3% dividend yield. The theory behind defensive stocks is that even in harder economic times, people will still pay for consumer goods, like Unilever products and their phone plan, that Verizon provides. —with reporting from CNBC's Michael Bloom.

PepsiCo, Inc. to Move Stock Exchange Listing to Nasdaq.

Source: The Nasdaq

(This story is for CNBC Pro subscribers only.)

Its been a volatile week for stocks as uncertainty around the coronavirus reigns. Credit Suisse is recommending clients think both offensively and defensively given the roller-coaster week for stocks.