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- October 13, 202618°
- BIST10012,151-0.94%
- USD49.220.00%
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- INTEREST37.00%-1.00
- BITCOIN81,430-0.40%
- October 13, 202618°
JPMorgan updated its favorite stocks for June
JPMorgan updated its analysts' favorite stocks for June. Viasat was added to the list, while Eli Lilly continued its strong performance.
JPMorgan updated its monthly best ideas list prepared by its analysts for different investment strategies for June. The bank's list is divided into growth, income, value, and short position categories, and these recommendations do not have to exactly match the institution's fundamental notes. May ended strongly for the US markets. The closing, highlighted by major technology companies, saw the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average rise. While Nasdaq recorded an increase of over 8% throughout the month, the S&P 500 gained 5%, and the Dow gained 3%. The newly added stock to JPMorgan's list this month was Viasat. The global communications company offering high-speed satellite broadband is seen as a competitor to SpaceX's Starlink service. Although Viasat has risen over 730% in the last year, the company's shares faced heavy pressure in the last two trading days. Following this decline, the company's filing for a shelf registration with the US Securities and Exchange Commission on Friday for stock or debt sales drew attention. Needham reiterated its buy recommendation for Viasat on Friday and raised the target price from $58 to $90. According to FactSet data, about 70% of the company's revenues come from communication services, and the remaining 30% from defense and advanced technologies activities. Viasat also won a new contract with Lockheed Martin on Monday. This agreement covers supporting NOAA's next-generation aircraft with a hybrid satellite communication platform. Eli Lilly was also on the list. The company attracted attention in May by refocusing on vaccines and infectious disease treatments. During the same period, CVS Health announced it would restore coverage of the obesity drug Zepbound in drug plans. This development further strengthened Lilly's advantage over Novo Nordisk. The company, whose market value exceeded $1 trillion, also stood out with seven acquisitions announced or completed in the last three months. While Wall Street analysts maintain an optimistic stance on Lilly, the Indianapolis-based company closed last Thursday at an all-time high. According to FactSet data, the stock traded about 73% above the approximately $624 52-week low in August last year. JPMorgan's June list highlights the stock categories investors focus on again after the market rally.
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