BTIG shares the newest additions to its listing of greatest inventory picks for the second half of 2024. consequence. The S&P 500 is up 16.7% in 2024, whereas the Russell 2,000 small-cap index is little modified from a 12 months in the past. Nonetheless, Klinsky famous that to date, management within the inventory market has alternated between totally different massive gamers. The excessive focus in large-cap shares may result in better dangers later within the 12 months. “The mega-tycoons proceed to play a recreation of ‘whack-a-mole’ with one identify taking a break and one other filling the void,” he wrote. “The plain largest threat for 2H is that if these names begin popping up on the similar time.” With this backdrop in thoughts, BTIG shares an inventory of high picks heading into the second half of the 12 months. BTIG has a purchase score on all of those shares, and the corporate has additionally added 20 new shares to the basket. Athleisure retailer Lululemon Athletica is without doubt one of the newest additions to the BTIG listing. The inventory has fallen greater than 41% to date this 12 months. Nonetheless, analyst Janine Stichter’s $425 value goal means the inventory may rise about 42% from Friday’s closing value. “Regardless of some latest noise, LULU stays one of the steady progress tales in retail,” the analyst wrote. “Backed by a robust model, the corporate has confirmed it may possibly stand up to varied macros, fads and competitors.” cycle capabilities. Trying forward, Stickett sees the model’s progress coming from its entry into new merchandise equivalent to males’s attire and footwear. The analyst additionally pointed to rising model consciousness and continued growth in aerospace and area as catalysts. Protection firm Northrop Grumman can be one of many newest corporations to hitch the listing. Analyst Andre Madrid has a value goal of $565, which represents about 30% upside for the inventory. Grumman shares have fallen 7% this 12 months, nonetheless, Madrid wrote that he believes the corporate is “one of many best-positioned protection anchors within the present international menace atmosphere.” “We anticipate the corporate to be one of many quickest rising amongst protection prime contractors over the rest of this decade for 2 causes: 1) publicity to high-growth finish markets equivalent to area; 2) presence in a number of key Data embody serving on tasks deemed important to nationwide safety,” the analyst stated. “Coupled with sturdy free money movement (primarily returned to shareholders by way of buybacks and dividends), we consider NOC is probably the most enticing long-term defensive identify.” Dexcom, which makes steady glucose monitoring tools, can be newly listed on BTIG’s high listing Inventory Checklist. Analyst Marie Thibault believes the inventory, down 8% 12 months thus far, opens up a sexy entry level. “We see thrilling progress alternatives and catalysts rising for DXCM over the subsequent six months and examine the latest share value pullback on issues about gross sales power disruptions as a chance to accumulate shares at a relative low cost,” she wrote. Extra particularly, Thiebaud sees the corporate’s rising affected person base as a supply of sturdy recurring income. Her value goal of $156 is about 37% larger than the inventory’s closing value of $113.69 on Friday. Cybersecurity firm Okta is without doubt one of the corporations returning to the listing. Analyst Grey Powell has a value goal of $128 for the inventory, which represents an upside of about 33%. “We reiterate OKTA as our high decide as we consider it’s probably to re-evaluate any of our protection as execution improves and the corporate’s breaches start in October 2023,” the analyst wrote. Title. Okta is up greater than 6% this 12 months. Different present names on BTIG’s picks listing embody Steve Madden, Block and Domino’s Pizza.
