Retail Resilience: Wayfair, Lowe's, Best Buy — JPMorgan's Top Stock Picks
Retail Resilience: Wayfair, Lowe's, Best Buy — JPMorgan's Top Stock Picks
As the retail landscape evolves amidst changing consumer behaviors and economic shifts, investors seek guidance on navigating this dynamic sector.
The JPMorgan Retail Round-Up Conference 2024 shed light on key themes shaping the retail landscape this year, including:
Stable U.S. consumer backdrop
Resurgence in denim and activewear categories
Renewed focus on consumer value.
Amidst these trends, Christopher Horvers, head of U.S. Broadlines and Hardlines Retail at JPMorgan, presented compelling stock picks poised for growth in the retail sector.
1. Wayfair: Offers Upside From Sales, Margins
Horvers expressed optimism about Wayfair Inc (NYSE:W), the leading online specialty retailer. He attributed its potential for growth to the improving demand for home goods.
With sales expected to rise alongside the resurgence in home-related purchases, Wayfair stood to benefit from its dominance in the online home furnishings category.
Horvers noted the company's focus on cost optimization post-Covid-19 pandemic. "We see upside not only from sales but also from margins," said Hoervers.
2. Lowe's: Outdoor Patio Demand To See Acute Uplift
Horvers highlighted Lowe's Companies Inc (NYSE:LOW) as another promising stock pick, particularly as the outdoor spring season kicks off. Anticipating increased demand for outdoor patio products, driven partly by pent-up demand from the Covid pandemic era, Horvers emphasized Lowe's exposure to seasonal categories.
"DIY is 75% of their business. A big chunk of that is driven off these seasonal categories," highlighted Horvers. Lowe's is well-positioned to capitalize on the anticipated uplift in demand for outdoor home improvement products.
"We also think that the outdoor patio area will see an acute uplift this spring ... Lowe's is acutely more exposed to this trend than Home Depot Inc (NYSE:HD)."
3. Best Buy: Back-To-School Important Catalyst
Horvers identified Best Buy Co Inc (NYSE:BBY) as an attractive investment opportunity, especially considering the potential for a turnaround in demand for big-ticket items with long replacement cycles. "Companies like Walmart Inc (NYSE:WMT) and Target Corp (NYSE:TGT) and Home Depot are still seeing headwinds," he noted.
Noting the uptick in demand for laptops and TVs, Horvers suggested back-to-school season could serve as a catalyst for Best Buy. With its dominant market position and conservative margins, Best Buy presents an appealing value proposition within the retail sector.
As the retail landscape develops amidst shifting consumer preferences and economic conditions, J.P. Morgan's retail stock picks offer investors opportunities for potential growth and value.
Wayfair, Lowe's and Best Buy are positioned to capitalize on emerging trends and market dynamics. Investors may find these stocks worthy of consideration in their portfolios.
However, as with any investment, thorough research and analysis are essential to making informed decisions in the ever-changing retail sector.
隨着零售格局在不斷變化的消費者行爲和經濟變化中不斷演變,投資者在探索這一充滿活力的行業中尋求指導。
摩根大通2024年零售綜述會議闡明瞭塑造今年零售格局的關鍵主題,包括:
穩定的美國消費者背景
牛仔布和運動服類別的復甦
重新關注消費者價值。
在這些趨勢中,摩根大通美國寬帶和強硬市場零售主管克里斯托弗·霍弗斯提出了引人入勝的股票精選,爲零售業的增長做好了準備。
1。Wayfair:從銷售和利潤中獲得上行空間
霍弗斯對領先的在線專業零售商Wayfair Inc(紐約證券交易所代碼:W)表示樂觀。他將其增長潛力歸因於對家居用品需求的改善。
隨着房屋相關購買的復甦,預計銷售額將增長,Wayfair將受益於其在在線家居用品類別的主導地位。
霍弗斯指出,在COVID-19疫情之後,該公司將重點放在成本優化上。霍弗斯說:“我們不僅從銷售中看到了上行空間,還從利潤率中看到了上行空間。”
2。Lowe's:戶外露臺需求急劇上升
霍弗斯強調Lowe's Companies Inc(紐約證券交易所代碼:LOW)是另一個有前景的股票選擇,尤其是在戶外春季開始之際。霍弗斯預計,對戶外露臺產品的需求將增加,部分原因是由於Covid大流行時代被壓抑的需求,霍弗斯強調了Lowe對季節性品類的敞口。
“DIY 佔他們業務的 75%。其中很大一部分源於這些季節性類別,” 霍弗斯強調說。勞氏完全有能力利用戶外家居裝修產品需求的預期增長。
“我們還認爲,今年春天戶外露臺區將急劇上升...勞氏比家得寶公司(紐約證券交易所代碼:HD)更容易受到這種趨勢的影響。”
3.百思買:返校的重要催化劑
霍弗斯認爲百思買公司(紐約證券交易所代碼:BBY)是一個有吸引力的投資機會,特別是考慮到對更換週期較長的大宗商品的需求有可能出現好轉。他指出:“沃爾瑪公司(紐約證券交易所代碼:WMT)和塔吉特公司(紐約證券交易所代碼:TGT)和家得寶等公司仍然面臨阻力。”
霍弗斯注意到對筆記本電腦和電視的需求增加,他表示,返校季可以作爲百思買的催化劑。憑藉其主導的市場地位和保守的利潤率,百思買在零售領域提出了有吸引力的價值主張。
隨着零售格局在消費者偏好和經濟狀況不斷變化的背景下發展,摩根大通的零售股票精選爲投資者提供了潛在增長和價值的機會。
Wayfair、Lowe's和百思買有能力利用新興趨勢和市場動態。投資者可能會在他們的投資組合中發現這些股票值得考慮。
但是,與任何投資一樣,深入的研究和分析對於在不斷變化的零售行業中做出明智的決策至關重要。
譯文內容由第三人軟體翻譯。
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