This article first appeared on GuruFocus.
Oppenheimer named Alphabet (NASDAQ:GOOG) among its top stock picks while placing Meta Platforms (NASDAQ:META) on its preferred sell list as part of its latest sector-by-sector recommendations.
The brokerage also identified Valero Energy (NYSE:VLO), Nucor (NYSE:NUE), Cboe Global Markets (CBOE), Digital Realty Trust (DLR) and Monolithic Power Systems (MPWR) among its favored names across various sectors. On the sell side, Oppenheimer highlighted Expand Energy (NASDAQ:EXE), Mosaic (MOS), CDW Corporation (NASDAQ:CDW), Brookfield Asset Management (BAM) and Alexandria Real Estate Equities (ARE).
Separately, Oppenheimer maintained a constructive view on equities, saying the market’s advance since the March low has been driven primarily by beta and momentum factors. The firm added that momentum continues to outperform within high-beta stocks despite recent market volatility.
Oppenheimer also pointed to improving market breadth and noted that the S&P 500 held its 50-day moving average following a roughly 5% pullback, which it said may support the case for another leg higher.
