JPMorgan has updated its list of analysts’ top stocks, which includes its top ideas for growth, income, value, and short-selling strategies.
Investment bank JPMorgan has released its August "focus list", amidst a rather challenging market environment since the start of the month.
As traders prepare for more economic data in the second half of the year, with a potential rate cut coming as early as next month, JPMorgan has updated its list of analyst-recommended stocks, which includes its top ideas in terms of growth, income, value, and short selling strategies.
Some titles have been added, while others have been removed from this month’s list. EQT Corp. was added, while Arista Networks and Coherent Corp. – two names on last month’s list – were removed.
Here are some of JPMorgan’s top picks for August:
| Ticker | Company Name | Strategy | Evaluation | Target Price ($) |
| CAT | Caterpillar | Value | Overweight | 435 |
| MCD | McDonald’s | Value | Overweight | 270 |
| ULTA | Ulta Beauty | Growth | Overweight | 544 |
| SCHW | Charles Schwab | Growth | Overweight | 78 |
| EQT | EQT Corp | Value | Overweight | 42 |
| LLY | Eli Lilly | Growth | Overweight | 1000 |
| AMZN | Amazon | Growth | Overweight | 240 |
| AVGO | Broadcom | Growth | Overweight | 200 |
| MSFT | Microsoft | Growth | Overweight | 470 |
EQT was appointed as part of the bank’s value strategy. The bank has an Overweight rating on the oil and gas production company that also operates pipelines with a price target of $42. EQT shares are down more than 18% this year.
Given that underperformance, JPMorgan now sees a favorable risk-reward ratio for the stock thanks to the attractive "fundamentals" of natural gas and confidence in EQT’s plan to reduce debt.
leggi anche
13 AI stocks you should have in your portfolio
Among consumer stocks, McDonald’s is also seen as a value opportunity, with shares of the fast food chain down 7% this year. Earlier this month, McDonald’s reported second-quarter earnings and revenue that fell short of Wall Street’s expectations.
This has come as consumers, especially those with lower incomes, have reduced spending at fast food restaurants due to rising menu prices, leading several chains, including McDonald’s, to offer value meals. McDonald’s, for example, recently expanded its $5 value meal in most U.S. markets to increase traffic.
For growth stocks, Amazon is among the selected stocks. JPMorgan has an Overweight rating on the dominant e-commerce platform and a price target of $240.
Amazon Chief Financial Officer Brian Olsavsky said he expects online shopping to decline this quarter, citing consumer distraction from the Paris Olympics and the approaching presidential election in November, while also citing last month’s assassination attempt. of former President Donald Trump.
Other names that made JPMorgan’s list include Eli Lilly – whose shares rose after positive late-stage trial results of its weight-loss drug Zepbound showed benefits in patients with a type common heart failure and obesity – and Microsoft.
|Disclaimer
The information and considerations contained in this article should not be used as the sole and principal basis on which to make investment decisions. The reader retains full freedom in his own investment choices and full responsibility in making them, since he alone knows his risk appetite and his time horizon. The information contained in the article is provided for informational purposes only and its disclosure does not constitute and should not be considered an offer or solicitation for public savings.|
Original article published on Money.it Italy 2024-08-12 07:20:00. Original title: Le azioni da comprare ad agosto secondo JPMorgan
