Mizuho's monthly Top Picks List, which highlights favored stocks based on a 12-month outlook, has added Walmart and Life Time Group Holdings while removing Chewy and MGM Resorts International.
The stock market began August on a high note, with the Dow Jones Industrial Average and S&P 500 reaching record levels, bolstered by robust earnings reports and optimism surrounding a potential deal to secure the Strait of Hormuz.
Analyst David Bellinger defended Costco against concerns of slowing membership growth, citing that many new warehouse openings are 'fill-ins' that temporarily affect membership numbers, while renewal rates remain high at over 90%. Robinhood, despite a nearly 18% decline this year, is viewed positively by analyst Dan Dolev, who highlights its engaged user base and potential for profitable growth.
Oracle, which has seen a 26% drop in shares this year, is seen as a long-term beneficiary of AI adoption, with analyst Siti Panigrahi projecting a significant increase in operating income growth driven by AI initiatives