Buy these stocks that have upside after Fed rate cut, analysts say

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Buy these stocks that have upside after Fed rate cut, analysts say

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, pointing to a recent pricing study the firm conducted. “While Best Buy’s price gap with

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widened slightly from our last pricing study, we note Best Buy ******** at virtual price parity in televisions, home theater, and accessories,” the analyst said. Meanwhile, Best Buy shares remain undervalued compared to those of its peers in the sector, Chukumba added. The stock is up 24% this year. Coca-Cola — Wells Fargo, overweight rating “The mega cap Staples space has risen in recent months as lower rates, defensive rotation, and fundamental visibility have driven inflows into the names. KO emerging as perhaps the cleanest mega cap. MARGINS. Visibility seems strong. … We find this trifecta — sales, margins and valuation — as differentiated.” Zillow — Wedbush, outperform rating “In addition to potentially positive catalyst of lower mortgage rates for Zillow’s core brokerage business, we see ZG’s software and services (S & S) initiatives adding to potential upside risk to our estimates. … However, if our

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on Residential revenues proves correct, that may be an upside risk to our Mortgage revenue assumptions. … Software and Services Should Add to ZG’s Brokerage Dominance.” Best Buy — Loop Capital, buy rating “In addition, Best Buy’s prices are less than 1% or better of

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’s on nearly nine out of every ten items in our market basket, which increased from our last pricing study. Finally, we are incrementally more bullish on near-term demand given the beginning of the US Federal Reserve’s rate cut campaign next week, which we believe will benefit Best Buy in two primary ways….” UPS and FedEx — Goldman Sachs, buy ratings “We highlight Buy rated UPS and FDX as two favored names into the cut cycle in addition to idiosyncratic and valuation attractiveness. … Importantly, we note that when we compare the returns to the overall market as measured by the S & P 500, the market underperforms transports, with flat returns until mid single digit returns six months after the cut all the while transports have double digit returns.” Western Alliance — D.A. Davidson, buy rating “The clear initial focus for bank investors when considering a change in the interest rate environment is differentiating between asset sensitive and liability sensitive balance sheets. … Rate cuts should lead to a steepening yield curve, which will be very beneficial to net interest margin. … WAL’s inclusion on this list falls under the heading of expense (ECR costs), growth, and mortgage-related opportunities.”

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#Buy #stocks #upside #Fed #rate #cut #analysts

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