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Bernstein presented the list of 12 stocks it believes could outperform the market in the next 6 months.
Spread over 7 sectors, Bernstein highlights 12 high-quality, not-crowded stocks.
“Since 2004, U.S. stocks rated Outperform by our fundamental analysts have produced premiums of +1.8% on an annual basis relative to the S&P 500 index. Over the same time frame, the best quintile of our current Bernstein Alpha Model produced +3.8% relative annual returns. However, we found that stocks that were attractive on both counts outperformed by +6.1% a year,” the analysts explained.
Stocks included in the list are Meta Platforms Inc. (NASDAQ:META), Qualcomm Inc (NASDAQ:QCOM), American Express (NYSE:AXP), Micron Technology Inc (NASDAQ:MU), Intercontinental Exchange (NYSE:ICE), Pioneer Natural Resources Co (NYSE:PXD), L3Harris Technologies Inc (NYSE:LHX), Centene Corp (NYSE:CNC), The Kroger Co (NYSE:KR), Devon Energy Corp (NYSE:DVN), Global Payments Inc (NYSE:GPN), and Hewlett Packard Enterprise Co (NYSE:HPE).
On Meta, Bernstein analysts wrote:
“We believe Meta is well positioned to mark and bounce off the bottom in ad revenue growth over the next 6 months…If Meta can show investors that they can still grow, more upward estimate revisions and re-rating may be on the horizon.”
