Source: Financial World
JPMorgan released its monthly list of analysts’ top stock picks, which also added a new stock.
Auto auction platform $ACV Auctions (ACVA.US)$ made the list as a growth stock. JPMorgan did not list any of the stocks it removed from the list, which is compiled monthly by analysts based on their top picks.
All stocks on the bank’s “Analysts Watch List” have an Overweight rating and are recommended for growth or value strategies, with the exception of only one short-term pick: Bank of America (BAC.US)$ . Analyst Vivek Juneja is bullish on Bank of America because the bank is very sensitive to rising interest rates.
Here are the top 10 best stock picks for Morgan Stanley in June:
Newcomer ACV Auctions is down more than 50% this year, but analyst Rajat GuPTA said the company’s appeal lies in its strong balance sheet and, although the company’s earnings outlook is less uncertain, it’s catching up with other tech stocks. The fact that they fell together.
Amazon (AMZN.US) , which was popular among Wall Street analysts this week, was also on the list. JPMorgan has a $4,000 price target on the stock, which implies more than 66% upside from its closing price on Tuesday.
On this list, there are basically more stocks in the medical sector than any other sector, except for the comparable consumer sector. Growth stock Eli Lilly (LLY.US) , the largest healthcare stock by market capitalization, has risen 13% this year, while JPMorgan analysts see 8% upside potential.
Relay Therapeutics (RLAY.US) is another health care and value pick, with a $ 47 price target from JPMorgan, implying an upside of 188%.
In addition, other stocks on the list include $Signature Bank (SBNY.US)$ , $McDonald’s (MCD.US)$ , $Honeywell (HON.US)$ , $Allegheny Technologies (ATI.US)$ and $Workday(WDAY.US)$ .
Editor/Corrine
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