선요약 : 제이피모건 JPMorgan은 2021년에 매수해야 할 50개의 '가장 설득력 있는' 주식을 공개했다.
JPMorgan은 투자자들이 2021년에 최고의 수익을 얻기 위해 주식에 대한 성장 지향적 접근법과 가치 지향적 접근법을 혼합해야 한다고 경고한다.
JPMorgan은 투자자들에게 정반대의 두 가지 접근법으로 큰 수익을 올릴 수 있다고 말할 정도로 2021년 주식에 대해 긍정적인 전망을 보인다.
두브라브코 라코스-부하스 미국 주식전략가는 S&P 500이 내년 초에 4,000까지 갈것이라고 한다.
그리고 연말까지 4,500선까지 오를 수 있을 것이라고 한다.
JPMorgan의 48대 성장 및 가치선정 종목은 애널리스트들의 2021년 말 가격목표를 바탕으로 그들이 얼마나 많은 상승세를 제공하는지 오름차순으로 정리되어 있다.
모든 종목은 JPMorgan 애널리스트들의 '비중확대' 등급을 갖고 있다.
50. Discover Financial
Ticker: DFS
Sector: Financials
Strategy: Value
Case: "We believe the primary catalyst for shares in 2021 will be increased visibility to long-term capital returns." — Richard Shane
Price target: $72
Upside to target: -14.4%
Source: JPMorgan Chase
49. Cimarex
Ticker: XEC
Sector: Energy
Strategy: Value
Case: "XEC is one of our top picks as we expect all three commodities to be working for the company in a positive direction." — Arjun Jayaram
Price target: $35
Upside to target: -11.1%
Source: JPMorgan Chase
48. TG Therapeutics
Ticker: TGTX
Sector: Healthcare
Strategy: Growth
Case: "We view the coming year as value defining for TGTX's heme-oncology franchise along with, assuming phase 3 ULTIMATE's success, compelling optionality held by ublituximab in an expanding anti-CD20 RMS market, and see shares continuing to outperform both our broader coverage universe, and the sector as whole." — Eric Joseph
Price target: $38
Upside to target: -8.9%
Source: JPMorgan Chase
47. Spirit AeroSystems
Ticker: SPR
Sector: Industrials
Strategy: Value
Case: "We see the ramp on 737 profits giving Spirit appealing exposure to a multi-year Aero recovery. We view Boeing's future as very much dependent on ramping MAX production in the coming years, and this gives Boeing a strong incentive to sell the key platform that drives Spirit's profitability." — Seth Seifman
Price target: $36
Upside to target: -7.0%
Source: JPMorgan Chase
46. Wynn Resorts
Ticker: WYNN
Sector: Consumer discretionary
Strategy: Growth
Case: "Likely sequential improvements in Macau (and, honestly, not much has to happen for this to occur) will continue to drive WYNN higher." — Joseph Greff
Price target: $106
Upside to target: -6.1%
Source: JPMorgan Chase
45. Honeywell
Ticker: HON
Sector: Industrials
Strategy: Growth
Case: "We view HON as a best-in-class diversified growth story, positioned well on several fronts such as warehouse automation (e-commerce) and building efficiency (IAQ/ESG thematic)." — C. Stephen Tusa
Price target: $200
Upside to target: -5.6%
Source: JPMorgan Chase
44. Bank of America
Ticker: BAC
Sector: Financials
Strategy: Value
Case: "Bank of America is one of our more rate sensitive names and should benefit from rise in long term rates. Bank of America has strong capital levels and should also benefit from further capital return. Finally, BofA has a more conservative credit risk profile, which should better position it if economic recovery is weaker than expected." — Vivek Juneja
Price target: $27.50
Upside to target: -5.5%
Source: JPMorgan Chase
43. Arista Networks
Ticker: ANET
Sector: Growth
Strategy: Information technology
Case: "We expect Arista to return to double-digit revenue growth in FY21 ... helped by rebound in US cloud provider spending (forecast >20% capex growth vs. 8% in FY20) and recovery in Enterprise spending" — Samik Chatterjee
Price target: $275
Upside to target: -0.5%
Source: JPMorgan Chase
42. Wyndham Hotels & Resorts
Ticker: WH
Sector: Consumer discretionary
Strategy: Value
Case: "We remain confident that WH can generate above peer operating results in the near/medium term given its focus on franchising, leisure and drive to business with mostly non-urban economy/mid-scale select service hotels, and thus can continue to close the valuation gap to peers" — Joseph Greff
Price target: $59
Upside to target: 0.3%
Source: JPMorgan Chase
41. Ascendis Pharma
Ticker: ASND
Sector: Healthcare
Strategy: Growth
Case: "Following a string of positive catalysts, each of which were de-risking for the pipeline ... we see ASND delivering on the promise of its platform." — Jessica Fye
Price target: $177
Upside to target: 0.4%
Source: JPMorgan Chase
40. KLA
Markets Insider
Ticker: KLAC
Sector: Information technology
Strategy: Value
Case: "KLAC is our top pick in semi-caps on diversified growth, strong product cycles, positive leverage to EUV, and growing shareholder returns." — Harlan Sur
Price target: $260
Upside to target: 1.6%
Source: JPMorgan Chase
39. Broadcom
Ticker: AVGO
Sector: Information technology
Strategy: Value
Case: "Even in a tougher environment, we continue to expect an increase to annual dividends in December (from $13.00 today) and 8-12% annual dividend growth beyond this year." — Harlan Sur
Price target: $420
Upside to target: 2.4%
Source: JPMorgan Chase
38. Phillips 66
Ticker: PSX
Sector: Energy
Strategy: Value
Case: "While PSX has been less defensive than we hoped in 2020, owing to weaker-than-expected performance in the Refining segment, we still think that earnings should hold up better than for most companies in Energy, aided by its portfolio diversity." — Phil Gresh
Price target: $73
Upside to target: 3.0%
Source: JPMorgan Chase
37. Disney
Ticker: DIS
Sector: Consumer discretionary
Strategy: Growth
Case: "Disney will benefit from greater reopening of Parks and resumption of theatrical releases while driving further growth at its streaming services. We believe investors should continue to appreciate the exceptional growth in digital subs and Disney's superior content as the sub growth story continues in F21" — Alexia Quadrani
Price target: $160
Upside to target: 3.4%
Source: JPMorgan Chase
36. Caterpillar
Ticker: CAT
Sector: Industrials
Strategy: Value
Case: "We believe CAT's earning power and FCF conversion over this upcoming cycle, supported by a new US construction cycle, continue to merit our Overweight rating. ... we view CAT as the biggest winner of a potential federal infrastructure bill." — Ann Duignan
Price target: $185
Upside to target: 3.4%
Source: JPMorgan Chase
35. Coca-Cola
Ticker: KO
Sector: Consumer staples
Strategy: Near term
Case: "We believe KO still offers investors a unique combination of top-line growth and gross margin expansion." — Andrea Teixeira
Price target: $55
Upside to target: 3.7%
Source: JPMorgan Chase
34. Globe Life
Ticker: GL
Sector: Financials
Strategy: Growth
Case: "GL is the strongest franchise in the life sector, in the long run, and one of the best positioned firms in the current environment due to its superior ROE, strong free cash flow, and below-average EPS sensitivity to interest rates or the equity market." — Jimmy Bhullar
Price target: $99
Upside to target: 4.3%
Source: JPMorgan Chase
33. Fiserv
Ticker: FISV
Sector: Information technology
Strategy: Near term
Case: "While the tech is relatively dated, we believe management will develop a plan to modernize without disrupting its large scale and distribution footprint that have allowed the company to grow at a premium to direct peers in the most recent quarter." — Tien-tsin Huang
Price target: $120
Upside to target: 4.5%
Source: JPMorgan Chase
32. Microsoft
Ticker: MSFT
Sector: Information technology
Strategy: Growth
Case: "Accelerated demand in some parts of its business stemming from work, learn and play-from home trends has only reinforced the narrative that Microsoft thrives at the intersection of digital transformation, cloud computing, and productivity." — Mark Murphy
Price target: $220
Upside to target: 4.5%
Source: JPMorgan Chase
31. Alphabet
Ticker: GOOGL
Sector: Communication services
Strategy: Value
Case: "Google Cloud profit disclosure will not only show the pace & magnitude of investments in Google Cloud, a key focus area, but also show how profitable the rest of Google Segment is, making SOTP more viable." — Harlan Sur
Price target: $1,870
Upside to target: 5.8%
Source: JPMorgan Chase
30. Robert Half International
Markets Insider
Ticker: RHI
Sector: Industrials
Strategy: Growth
Case: "RHI is both a dominant and an innovative leader in professional staffing with expertise in accounting and finance (F&A). In past economic cycles, RHI has seen double-digit growth in its perm and temp help business in the first few years coming out of the recession, and we believe this cycle should be no different." — Andrew Steinerman
Price target: $68
Upside to target: 6.0%
Source: JPMorgan Chase
29. Thermo Fisher Scientific
Markets Insider
Ticker: TMO
Sector: Healthcare
Strategy: Growth
Case: "We see both durability and further upside in COVID tailwinds ... Longer term, TMO's growing biopharma exposure and leading product innovation should fuel persistent above-market growth." — Tycho Peterson
Price target: $500
Upside to target: 6.7%
Source: JPMorgan Chase
28. Norfolk Southern
Ticker: NSC
Sector: Industrials
Strategy: Growth
Case: "Norfolk represents the best in class opportunity to improve the worst in class operating ratio after lagging peers in volume growth." — Brian Ossenbeck
Price target: $253
Upside to target: 7.0%
Source: JPMorgan Chase
27. Bloomin' Brands
Ticker: BLMN
Sector: Consumer discretionary
Strategy: Value
Case: "Bloomin' Brands' shored-up balance sheet, largely mid-scale exposed US business, recovering Brazil and company-specific margin improvement efforts screen attractive among casual diners." — John Ivankoe
Price target: $20
Upside to target: 9.7%
Source: JPMorgan Chase
26. Aon
Ticker: AON
Sector: Financials
Strategy: Growth
Case: "We view brokerage as the most attractive business segment within P&C insurance from a long-term structural standpoint. Additionally, we believe that brokers are defensively positioned in the current economic backdrop. Among large brokers, AON is our favorite stock." — Jimmy Bhullar
Price target: $228
Upside to target: 10.6%
Source: JPMorgan Chase
25. AbbVie
Ticker: ABBV
Sector: Healthcare
Strategy: Value
Case: "ABBV remains one of our favorite names in the group as we see ongoing upside from Skyrizi and Rinvoq (where we highlight a number of line extension catalysts over the next 12 months) as well as an improving mid/late-stage pipeline." — Chris Schott
Price target: $120
Upside to target: 11.6%
Source: JPMorgan Chase
24. First Republic Bank
Ticker: FRC
Sector: Financials
Strategy: Growth
Case: First Republic's pre-tax pre-provision profit "income growth potential is likely to widen further above peers.'" —Alex Lau
Price target: $148
Upside to target: 13.6%
Source: JPMorgan Chase
23. Humana
Ticker: HUM
Sector: Healthcare
Strategy: Growth
Case: "Humana is largely a pure play story for the Medicare Advantage (MA) market. MA is the fastest-growing line of health insurance ... HUM already provided the most robust 2021 outlook in the sector, which is attractive in a year characterized by increased margin uncertainty for health insurers." — Gary Taylor
Price target: $452
Upside to target: 13.7%
Source: JPMorgan Chase
22. Targa Resources
Markets Insider
Ticker: TRGP
Sector: Energy
Strategy: Growth
Case: "TRGP possesses full value chain integration and best in class Permian leverage. Importantly, having right sized the dividend and largely completed its project backlog, Targa possesses visibility to deleveraging and share repurchases." — Jeremy Tonet
Price target: $32
Upside to target: 14.0%
Source: JPMorgan Chase
21. General Motors
Ticker: GM
Sector: Consumer discretionary
Strategy: Value
Case: "Greater than presumed resiliency, combined with accelerating investments in electric vehicles to rival much more highly valued peers, we think could engender multiple expansion in 2021 even as earnings surge back as volume rebounds." — Ryan Brinkman
Price target: $49
Upside to target: 14.3%
Source: JPMorgan Chase
20. Altice USA
Ticker: ATUS
Sector: Communication services
Strategy: Value
Case: "We continue to like Altice based on solid fundamentals, strong capital returns, and 11.5% fully-taxed 2022 FCF yield." — Philip Cusick
Price target: $40
Upside to target: 15.1%
Source: JPMorgan Chase
19. Mondelez International
Ticker: MDLZ
Sector: Consumer staples
Strategy: Growth
Case: "Many food-at-home companies will post deeply negative organic/same-store sales growth in 2021. To avoid stocks with these unfortunate optics, we lean toward companies that can still grow during 2021, such as Mondelēz." — Ken Goldman
Price target: $66
Upside to target: 15.4%
Source: JPMorgan Chase
18. Sarepta Therapeutics
Ticker: SRPT
Sector: Healthcare
Strategy: Growth
Case: "All told, recent volatility in SRPT shares amidst negative sentiment has shifted the reward / risk profile into the event to be more balanced / favorable." — Anupam Rama
Price target: $185
Upside to target: 15.6%
Source: JPMorgan Chase
17. Delta Air Lines
Ticker: DAL
Sector: Industrials
Strategy: Value
Case: "We continue to view Delta as the industry benchmark and a company that will likely benefit from the further rationalization of the global airline industry." — Jamie Baker
Price target: $50
Upside to target: 17.3%
Source: JPMorgan Chase
16. Dell Technologies
Ticker: DELL
Sector: Information technology
Strategy: Growth
Case: "Dell has executed well as work from home trends have benefited the consumer PC business ... Strong FCF in FY21 has enabled the firm to de-lever consistently throughout FY21." — Paul Coster
Price target: $85
Upside to target: 17.8%
Source: JPMorgan Chase
15. Baxter International
Ticker: BAX
Sector: Healthcare
Strategy: Value
Case: "We see significant long-term value in Baxter and view it as one of the top names in our large-cap coverage." — Robbie Marcus
Price target: $94
Upside to target: 18.7%
Source: JPMorgan Chase
14. Dominion Energy
Ticker: D
Sector: Utilities
Strategy: Growth
Case: "Dominion now represents a best-in-class, pure play regulated utility with attractive ESG growth plans." — Jeremy Tonet
Price target: $90
Upside to target: 21.1%
Source: JPMorgan Chase
13. Varonis Systems
Ticker: VRNS
Sector: Information technology
Strategy: Growth
Case: "Subscription transitions have been a consistent generator of outperformance in software over the last decade and VRNS appears to be following suit." — Sterling Auty
Price target: $160
Upside to target: 21.2%
Source: JPMorgan Chase
12. Ulta Beauty
Ticker: ULTA
Sector: Consumer discretionary
Strategy: Growth
Case: "We view ULTA as one of the best COVID-recovery stocks in retail as makeup consumption has lagged the broader market recovery ... we expect social-gathering starved consumers to engage highly in the make-up category as investors continue to look to 2022 earnings." — Christopher Horvers
Price target: $330
Upside to target: 21.3%
Source: JPMorgan Chase
11. Summit Materials
Ticker: SUM
Sector: Materials
Strategy: Value
Case: "SUM changed its CEO recently (a person coming from a different industry), and we expect to see a new phase for the company much more focused on integrating recent acquisitions." — Adrian Huerta
Price target: $24
Upside to target: 23.5%
Source: JPMorgan Chase
10. AmerisourceBergen
Ticker: ABC
Sector: Healthcare
Strategy: Value
Case: "The longer-term fundamental outlook for the pharmaceutical distribution industry is positive, driven by an aging population and increased utilization of prescription drugs. As ABC is essentially a pure-play in pharmaceutical distribution." — Lisa Gill
Price target: $123
Upside to target: 23.8%
Source: JPMorgan Chase
9. Brookfield Asset Management
Ticker: BAM
Sector: Financials
Strategy: Value
Case: "Brookfield Asset Management is a $578bn alternative asset manager with higher exposure to infrastructure/renewable than peers. BAM is entering an acceleration of its fundraising that will drive fee-earning AUM, revenue, and margins higher." — Kenneth Worthington
Price target: $53
Upside to target: 24.9%
Source: JPMorgan Chase
8. Americold Realty Trust
Ticker: COLD
Sector: Real estate
Strategy: Growth
Case: "We see COLD as an interesting way to play both defense and offense. COLD's business held up quite well during the Spring lockdowns due to the defensive nature of its business, and core growth potential continues to be above average." — Anthony Paolone
Price target: $43
Upside to target: 27.9%
Source: JPMorgan Chase
7. International Flavors & Fragrances
Ticker: IFF
Sector: Materials
Strategy: Value
Case: "We think that IFF shares may be pressured near term. ... Our December 2021 price target is $145 based on a 16.8x 2021 EV/EBITDA multiple (post the DNB transaction). Separately, IFF's business fundamentals are improving in North America." — Jeffrey Zekauskas
Price target: $145
Upside to target: 28.8%
Source: JPMorgan Chase
6. L Brands
Ticker: LB
Sector: Consumer discretionary
Strategy: Value
Case: "LB is on the path to establish Bath & Body Works as a standalone entity, with the concept offering high-single-digit same-store sales, sustainable low-20%+ operating margins, and low- to mid-single-digit annual square footage growth translating into a double-digit compounding bottom-line profile." — Matthew Ross
Price target: $53
Upside to target: 29.2%
Source: JPMorgan Chase
5. AerCap Holdings
Ticker: AER
Sector: Industrials
Strategy: Value
Case: "AerCap is our top pick for the Aircraft Leasing sector in 2021, as we believe the company affords investors compelling growth prospects through a healthy delivery backlog (only ~9% of fleet has leases expiring through 2022) and a well-diversified portfolio of aircraft." — Jamie Baker
Price target: $57
Upside to target: 31.1%
Source: JPMorgan Chase
4. Sunrun
Ticker: RUN
Sector: Industrials
Strategy: Growth
Case: "We look for RUN's profitability to accelerate in 2021 ... With Vivint Solar's largest holder completely finished selling its position in RUN, we believe an overhang on the stock is now removed, and we expect RUN to outperform the mean of our coverage" — Paul Coster
Price target: $79
Upside to target: 37.2%
Source: JPMorgan Chase
3. TechnipFMC
Ticker: FTI
Sector: Energy
Strategy: Value
Case: "FTI shares have been in a state of purgatory since the company put the brakes on a planned spin of Technip Energies in the spring. The stock is pricing in "worst-case" scenarios in our view, leaving lots of inexpensive optionality in both "old" and "new" energy channels." — Sean Meakim
Price target: $16
Upside to target: 59.5%
Source: JPMorgan Chase
2. PulteGroup
Ticker: PHM
Sector: Consumer discretionary
Strategy: Value
Case: "We continue to view the company's relative valuation as highly attractive when compared to its relative fundamental profile. Specifically, we estimate PHM will generate the highest gross margins across the larger-cap builders in 2021 and 2022." — Michael Rehault
Price target: $68
Upside to target: 61.3%
Source: JPMorgan Chase
1. BioMarin Pharmaceuticals 바이오마린 파마슈티컬스
Ticker: BMRN
Sector: Healthcare
Strategy: Growth
Case: "BioMarin remains our highest conviction idea heading into 2021 ... shares trade around the value of the base business. However, we suspect this could change with two potential value-inflecting clinical catalysts expected in January." — Cory Kasimov
Price target: $131
Upside to target: 68.5%
Source: JPMorgan Chase
#출처 : www.businessinsider.com/stock-picks-to-buy-2021-best-growth-value-investing-jpmorgan-2020-12#1-biomarin-pharmaceuticals-50
(자세한 내용은 자료 배포가 이뤄지는 본 출처 링크를 참고하시기 바랍니다.)
# 본 글은 주식 매수 매도 추천글이 아닙니다. 본 글에서 거론된 주식의 매수,매도는 투자자 본인의 판단이며 그 결과 또한 투자자 본인의 책임입니다.
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