JPMorgan is warning there could be further downward pressure on the market in 2023 before a recovery is felt. But the firm says there are still stocks to invest in. The firm expects the S & P 500 to re-test lows seen in 2022 as the Federal Reserve "overtightens" while trying to cool inflation.
Analysts also pointed to the possibility of continued penetration within groceries and the cloud that could give the company an additional boost. The firm has a $130 price target, implying the stock will gain 51.5% from Tuesday's close. Target also made the list, even as market observers grow increasingly wary of retail stocks amid economic contraction.
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