Credit Suisse refreshed its "top of the crop" stock picks for August, betting on some big-name stocks as investors continue to feed the markets with optimism. Stocks have fared well after last year's sell-off, with the broader market rising despite higher interest rates, several U.S. bank failures, fears of a potential recession and weaker corporate earnings. The S & P 500 has gained more than 16.6% this year—including a 3.1% increase in July alone.
According to analyst Shannon Cross, Flex will see strong near-term revenue and earnings growth driven by structural changes — including renegotiated contracts, increased stock buybacks and pricing discipline — implemented by management. These changes have allowed Flex to improve execution, expand margins and gain new business, Cross said, leading her to estimate revenue for this year to grow 2% year-over-year.