JPMorgan has highlighted a group of stocks heading into the new trading month, reflecting analysts’ top picks and some new favorites, including Carvana and L3Harris Technologies. The firm’s focus list includes top stock ideas around growth, revenue, value and short-selling strategies, according to a report on Monday. Every stock on the list has an Overweight rating. Here are some top picks: Defense contractor L3Harris Technologies, one of the company’s new top picks, is up 6.4% this year and could rise another 11.2%, according to JPMorgan. Wells Fargo agreed with JPMorgan, raising its price target on Monday to $262 from $245 and maintaining an overweight rating on the stock, saying potential trough profits could boost the stock. United Airlines is up nearly 28% this year, and JPMorgan believes the stock could rise about 85% next year. Despite continuing delays in Boeing Co.’s deliveries, investor optimism about the stock was renewed after the U.S. airline reported second-quarter earnings that topped Wall Street expectations. Other analysts agree. Jefferies recently upgraded its rating on the airline to “buy” from “hold” and raised its price target by $11 to $65. Jefferies analyst Sheila Kahyaoglu pointed to United’s investments in its products, particularly United Next, through which it aims to bring more than 800 aircraft to its fleet. plane. Analysts said improved international margins and higher free cash flow compared with the same period last year should also help drive shares higher. Ulta Beauty joins another well-known beauty brand on the list, as well as a slew of other consumer discretionary stocks. JPMorgan said the beauty stock could rise 37.7% based on its $544 price target. However, the company’s shares are down 19.4% this year, reflecting concerns about a slowdown in the mass-market beauty industry and increased competition from beauty retailers such as Sephora. Other stocks on the list include McDonald’s, Lowe’s and JPMorgan Chase.
