JPMorgan shared its top stocks list for April, including two new additions.
JPMorgan added two new names to its list of top stocks as April begins — Bank of America and CarMax . The firm's focus list includes its top equity ideas targeted around growth, income, value and short strategies. JPMorgan has an overweight rating on Bank of America, while used vehicle platform CarMax is rated underweight. Analyst Vivek Juneja added Bank of America as a value idea. However, his price target of $35 implies that shares could fall 8% from their Thursday close.
"Bank of America should benefit relatively more than peers from continued growth in trading and investment banking activity as it continues to invest in those businesses and likely continues to outperform peers in some of these areas," he added. On the other hand, analyst Rajat Gupta views CarMax as a short idea, with his $60 price target suggesting approximately 31% downside from where the stock closed on Thursday. CarMax has popped nearly 12% this year.
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