The firm screened for S&P 500 companies that have beat on the top- and bottom-lines with positive relative price action around their earnings reports.
Companies like Walmart and Apple could be among the most reliable plays during earnings season, according to Wolfe Research. The third-quarter earnings season is kicking off this week, with major consumer and financial names set to post their latest financial reports. Analysts lowered their EPS estimates in aggregate by a larger margin compared to recent averages during the third quarter, but S & P 500 earnings year-over-year are still estimated to grow 4.
" Badishkanian added that Walmart's prices are substantially cheaper than traditional grocers and able to compete with hard discounters through private label offerings. His $89 price target on Walmart shares implies about 12.3% potential upside. The stock has a price-to-earnings ratio of 33.3, according to the screener. TJX Companies made the cut alongside several consumer discretionary stocks. Shares of the discount retailer have jumped 19.
Investment Strategy Stock Markets S&P 500 Index Apple Inc Walmart Inc TJX Companies Inc Kellogg Co ON Semiconductor Corp Morgan Stanley Breaking News: Markets Business News
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