These stocks are contenders for selling–and can help cut taxes, Wolfe says

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These stocks are contenders for selling–and can help cut taxes, Wolfe says

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, citing softer sales as a contributing factor. Analysts are also tepid on the stock, with 14 out of the 28 analysts covering it rating it a hold, according to LSEG. The recent quarterly results spurred a wave of downgrades from Wall Street, including BMO Capital Markets. “We are downgrading DLTR shares to Market Perform and cutting our [price target] to $68 as we no longer have conviction in the company’s

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to justify an Outperform,” wrote BMO analyst Kelly Bania in a Thursday report. Her new price target assumes about 7% upside from Wednesday’s close. ZoomInfo Technologies , which provides data for companies, was also on Wolfe’s list. Shares are off 46% in 2024. More than half of the analysts covering ZoomInfo deem it a “hold,” according to LSEG – including Mizuho Securities’ team. “While we believe there’s a longer term opportunity for ZI to reaccelerate revenue growth as it shifts its business mix towards enterprise customers and benefits from Copilot/[desktop as a service] monetization, we expect the company’s near-term challenges around downsells/renewals to continue to weigh on the shares,” Mizuho analysts wrote in an Aug. 13 report. Other names in Wolfe’s tax-loss selling basket include electric vehicle manufacturer Rivian Automotive , pharmacy chain Walgreens Boots Alliance and diabetes management company Dexcom . Tax-loss selling for everyone You don’t have to be a portfolio manager to benefit from dumping a few of your biggest losers as the year winds down. Individual investors with a taxable brokerage account can make the same move: Sell your losers and use the realized losses to offset your capital gains. If your losses exceed your capital gains, you may apply up to $3,000 of those losses toward your ordinary income and carry over the rest to future years. Avoid violating the wash ***** rule: That is, selling an asset at a loss and then buying a “substantially identical” security within 30 days before or after the transaction. The IRS can disallow your loss in this case.

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#stocks #contenders #sellingand #cut #taxes #Wolfe

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