Bloomberg Intelligence: 10 company stocks to watch in 2022 (1)

The analysts at Bloomberg Intelligence have identified several worth watching carefully in the year ahead. Here's how they say about the 10 stocks.

After years of weak profit, the Dutch insurer is in need of a transformation. It will likely have to either sell or reinsure much of its Transamerica unit's U.S. variable-annuity business. That would reduce Aegon NV's exposure to the risks of rising interest rates and falling stock prices and give it cash to prop up the balance sheet. A decision could come by June. —Charles Graham

The market continues to underestimate the online travel-service company’s brand advantage and the strength of its long-term-stay business—20% of nights booked, its fastest-growing reservation category. Bookings could exceed analysts' expectations by $2 billion to $4 billion (3% to 7%) in 2022, and Airbnb Inc.'s unmatched direct site traffic and repeat customers will allow it to boost profits by cutting back marketing outlays. —Matthew Martino

YouTube ad sales are on track to top $35 billion in 2022, and parent Alphabet Inc.'s cloud revenue is headed toward $25 billion as the company continues to diversify its sales exposure. Sure, data privacy regulations remain a risk to Google's core search business, but connected TV augurs well for further YouTube upside. —Mandeep Singh

Analysts have estimated that the oil and gas producer will face as much as $115 million in liabilities, fines, and cleanup expenses for a mid-October subsea pipeline spill off California that led investors to cut the stock's value in half. But Bloomberg Intelligence's assessment of a rival's 2015 spill at the same spot that was six times larger suggests Amplify Energy Corp. may face less than $40 million in costs over the next five years. —Brandon Barnes

Associated British Foods Plc, the owner of clothing retailer Primark, appears set to resume growth after being badly affected by the pandemic. Primark’s discount fashions have the potential to raise the retailer's profile in the U.S., where it's profitable, as more stores open. Being one of the rare European retailers to post organic growth in the U.S. could change the perception of the entire company. —Charles Allen

The bank's new CEO has the opportunity to repair Barclays Plc's standing after predecessor Jes Staley's turbulent tenure, marked by probes into his ties with sex offender Jeffrey Epstein and a whistleblower debacle. Above-consensus banking fees and trading, as well as dividends and share buybacks, all might lift earnings per share and would augur well for Barclays this year. —Jonathan Tyce

The oil giant can continue to strengthen its balance sheet this year as crude prices remain well above the $40 a barrel needed to cover the dividend, and cash flow generated at current price levels will be split between stock buybacks and debt reduction. This could lead BP Plc's debt securities to outperform higher-rated oil majors that didn't cut their dividend and have no restrictions on share repurchases. —Paul Vickars

A U.S. tax court ruling expected this year threatens to leave Coca-Cola Co. on the hook for at least $11 billion more than the soft-drink giant set aside to cover an IRS suit over accounting discrepancies from 2007. Although Coke expects to win, a defeat could hurt shareholders by taking the fizz out of its lofty dividend payout ($7 billion in 2020) and weakening its debt structure. —Kenneth Shea

The technology-services provider's sales are poised to accelerate over the next 12 months on faster cloud adoption. Brisk order growth from health-care and technology clients signals a vibrant deal pipeline for Cognizant Technology Solutions Corp. through fiscal 2022. The broad industry shift to digital will provide growth opportunities for both software and services providers for the next several years. —Anurag Rana

With a new CEO and a market clamoring for the breakup of conglomerates, the maker of automation equipment and heating and cooling systems could see significant change in 2022. Although this change could include acquisitions, the time may be right to separate Emerson Electric Co.'s highly profitable climate-control unit. —Karen Ubelhart