These Are Wells Fargo's Core Stock Picks

12/10/2024 3:13:58 PM

(MENAFN- Baystreet) Wells Fargo (WFC) analysts published their core stock pick list. These have companies that lead the industry and are suitable for long-term investments.

Analysts picked Alphabet (GOOG) in the communications sector, forecasting a 12% EPS growth rate. Although regulators want to break up the search engine giant, expect google to resist. Alphabet's Gemini AI is also a growth catalyst.

The other picks are Comcast (CMCSA), Disney (DIS), and Omnicom Group (OMC).

In consumer discretionary, analysts like TJX Companies (TJX), Starbucks (SBUX), Nike (NKE), Lowe's (LOW), and Home Depot (HD). HD and LOW stocks are most promising since lower interest rates boost spending. Starbucks may struggle if coffee prices rise but service quality does not increase.

In consumer staples, Wells Fargo picked Sysco (SYY), Walmart (WMT), P&G (PG), Pepsi (PEP), Colgate-Palmolive (CL), and Coca-Cola (KO). KO and PEP stocks are in a downtrend, however, so investors should exercise caution with those picks.

In the IT sector, Apple (AAPL), Microsoft (MSFT), and Salesforce (CRM) are among the core picks.

Chevron (CVX) and Kinder Morgan (KMI) are the energy picks with a 5$ and 4% EPS growth estimate, respectively. Readers should also consider Enterprise Partners (EPD), Enbridge (ENB), and TC Energy (TRP).

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