President Donald Trump unveiled a reciprocal tariff plan on April 2, a day he dubbed “Liberation Day.” These new tariffs include a 10% tax on all U.S. trading partners and even higher rates on 60 countries that either impose their own taxes on U.S. goods or use “non-monetary barriers and other forms of cheating.” These tariffs approach 50% for countries like Vietnam and Cambodia. 

Key trading partners like China and the European Union are also squarely in Trump’s crosshairs. The U.S. will levy a new 34% reciprocal tariff on China and 20% on the EU. All tariffs are expected to take effect no later than April 9, and come on the heels of a newly levied 25% tariff on all imported cars and car parts.

Investors have reacted negatively, selling off equities on the news. The S&P 500 Index ($SPX) is down nearly 4.3% as of this writing, while the CBOE Volatility Index ($VIX) is approaching a 31% gain. 

These widespread tariffs will impact publicly traded companies across all sectors and industries, who must decide whether to eat the higher costs or pass them on to consumers. Companies that choose the latter path will likely face reduced consumer spending and potentially weak appetites for higher-priced imported goods. 

However, Wall Street analysts are highlighting a few companies that may offer reprieve amidst the tariff meltdown. Here are two that are worth a look after “Liberation Day.” 

Stock to Buy #1: TJX Companies 

Although analysts warn that retailers will broadly be impacted by tariffs – and by too-high inventories – TJX Companies (TJX) stands out, according to Jefferies. The parent company of off-price brands like TJ Maxx and Home Goods could benefit as other retailers ditch inventory, leaving TJX with more desirable surplus options to sell to its customers. 

Adding confidence to Jefferies’ recommendation is TJX’s stock performance on Thursday, April 3. As of this writing, shares are up slightly, vastly outperforming the red in the broader market. Over the past year, shares are up 29.2% and they are up more than 4% in the year to date. 

There is even more for investors to like. The company is currently trading at a forward price-earnings ratios of 27.7x, which while steeper than the industry average, represents a significant discount to its 5-year average. TJX stock is also slightly off its 52-week high, creating a bit of a discount for investors now. 

Plus, the rest of Wall Street agrees with Jefferies. TJX has a consensus “Strong Buy” rating from 22 analysts, and an average price target of $140.22. While this implies just 12% upside potential over the next 12 months, investors may prefer opting for conservative gains than the selloff and volatility in the broader market. 

Stock to Buy #2: Carvana 

Automakers and car parts suppliers have already been singled out in a new 25% tariff. However, this could doubly benefit used car retailer Carvana (CVNA). 

First, consumers are likely to opt for used cars as opposed to new models, as price increases push new cars out of reach for many buyers. Second, Carvana soures its inventory from the U.S., helping it avoid import tariffs that will impact several other companies like Ford (F) and General Motors (GM) in the auto space. 

Carvana has been another outperformer over the past year, with returns of 134%. The stock has not been as solid in the year to date, with a loss of 5%, including a brutal 17% drop today. 

However, there is still a lot for investors to like. 2024 was a “comeback” year for the used car retailer, as Amit Singh previously wrote for Barchart. It delievered a 33% increase in retail units sold and posted four straight quarters of positive net income. In the fourth quarter, its revenue surged 46% to $3.55 billion, and its earnings per share of $0.56 dramatically beat its loss of $1 per share in the prior-year period. 

The company did report some quarter-over-quarter weakness in its revenue per unit sold, which analysts say is to be expected with its cyclical business. With new car prices set to surge and more demand for used cars anticipatd, CVNA could start to see an improvement in those metrics. 

Plus, analysts are a fan of the stock, with a consensus “Moderate Buy” rating. The average price target of $280 implies more than 50% upside potential over the next 12 months.