Market Overview

Oppenheimer Serves Up 29 Top Stock Ideas For January

Oppenheimer Serves Up 29 Top Stock Ideas For January

The equity market has been on a tear in 2017, with the S&P 500 Index poised to end the year with a gain of around 20 percent. The 14-day relative strength index for the S&P 500 Index — a momentum indicator — is around 76, suggesting overbought levels.

Investing in an overbought market is always a risky proposition. Even a smallest dose of negative news could lead cautious traders to press the panic button, triggering a sell-off.

But even in an overbought atmosphere, hidden gems can fetch incremental returns over the market. For those looking for that alpha opportunity, Oppenheimer has released its top 29 stock ideas for January.

A Menu, Not A Portfolio 

Oppenheimer analysts were asked to contribute a pick they expect will outperform over the next 12 months based on their view of company fundamentals "in the context of current market conditions," according to the research firm. 

The stock ideas should be taken as a menu rather than as a portfolio, according to Oppenheimer. 

See also: Can Semiconductors Get Their Groove Back In 2018? Here's Oppenheimer's Playbook

Here's the list of Oppenehimer's Outperform-rated top stock ideas by sector: 

Consumer Stocks

  • Sprouts Farmers Market Inc (NASDAQ: SFM)
  • Home Depot Inc (NYSE: HD)
  • Restaurant Brands International Inc (NYSE: QSR)
  • Brands Inc (NYSE: LB)

Financial Institutions 

  • CIT Group Inc. (NYSE: CIT)
  • American Express Company (NYSE: AXP)

Health Care Stocks

  • Agios Pharmaceuticals Inc (NASDAQ: AGIO)
  • Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN)
  • Global Blood Therapeutics Inc (NASDAQ: GBT)
  • Portola Pharmaceuticals Inc (NASDAQ: PTLA)
  • Evolent Health Inc (NYSE: EVH)
  • CIGNA Corporation (NYSE: CI)
  • Integra Lifesciences Holdings Corp (NASDAQ: IART)
  • Heron Therapeutics Inc (NASDAQ: HRTX)

Industrial Stocks

  • XPO Logistics Inc (NYSE: XPO)
  • Canadian Solar Inc. (NASDAQ: CSIQ)
  • BorgWarner Inc. (NYSE: BWA)
  • Xylem Inc (NYSE: XYL)
  • Sensata Technologies Holding N.V. (NYSE: ST)

Special Situations

  • Ferroglobe PLC (NASDAQ: GSM)

Technology Stocks

  • Mulesoft Inc (NYSE: MULE)
  • Okta Inc (NASDAQ:OKTA
  • Activision Blizzard, Inc. (NASDAQ: ATVI)
  • FleetCor Technologies, Inc. (NYSE: FLT)
  • Apptio Inc (NASDAQ: APTI)
  • Broadcom Ltd (NASDAQ: AVGO)

Telecom & Internet Stocks

  • Boingo Wireless Inc (NASDAQ: WIFI)
  • ANGI Homeservices Inc. (NASDAQ: ANGI)
  • Priceline Group Inc (NASDAQ: PCLN)

Related Link:

Hologic: Meet Goldman Sach's New 'Conviction Buy'


Related Articles (ALXN + AGIO)

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