JPMorgan shared with clients its favorite department store stock picks ahead of a slew of earnings reports in the next week.
While analyst Matthew Boss expects “mixed performance” across his coverage, a number of “wildcards” should keep investors on their toes through year-end.
“With the heart of third-quarter earnings kicking off Thursday with the Department Stores – we expect mixed performance across our coverage with the bifurcation between retail winners and losers,” wrote Boss on Wednesday. “On the long-side we take a concentrated approach with five ‘core names.'”
Boss made key adjustments to his coverage, including multiple downgrades, but still sees upside for these three big names.