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As we kick off a new month of trading, JPMorgan has highlighted some of the top stocks that they believe can outperform in July. After the S & P 500 rallied 3.5% in June, reaching all-time highs, JPMorgan updated its Analyst Focus list with top equity ideas for growth, income, value, and short strategies.
One of the top picks for July is telecommunications giant AT & T, which JPMorgan added to their list under the value strategy. With shares climbing 13% this year, JPMorgan sees potential for a 10% increase with a $21 price target, citing improved fundamentals and EBITDA/ FCF growth.
Another exciting addition to the list is First Citizens BancShares, a regional bank that JPMorgan believes has greater upside potential going forward. With a strong balance sheet and the potential for increased venture capital investment once the Federal Reserve begins cutting rates, JPMorgan has set a price target of $2,400, implying a 43% rally.
Semiconductor manufacturer Broadcom is also on JPMorgan’s focus list for July, with analyst Harlan Sur setting a price target of $2,000, 25% above the stock’s Friday close. Jefferies and Bank of America have reiterated their bullish sentiments on Broadcom, with Bank of America raising its price target to $2,150.
PVH, the owner of brands such as Calvin Klein and Tommy Hilfiger, made the list as well, with analyst Matthew Boss setting a price target of $157, suggesting a 48% climb from its current level. UBS analyst Jay Sole is equally optimistic, maintaining a buy rating on the stock and increasing his price target to $174.
These are just a few of the top picks from JPMorgan’s Analyst Focus list for July. Be sure to stay tuned to Extreme Investor Network for more unique insights and investment opportunities to help you stay ahead in the world of trading.