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Top Stock Picks for Week of October 3, 2022

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JPMorgan Chase & Co. (JPM - Free Report) is one of the biggest global banks with assets valued at $3.84 trillion and stockholders’ equity worth $286.1 billion as of Jun 30, 2022. Opening new branches, strategic buyouts/investments and global expansion and digitization efforts are likely to keep driving the company’s financials. Further, higher interest rates and steady growth in loan demand are expected to result in a robust improvement in net interest income (NII). JPMorgan has been growing through on-bolt acquisitions, both domestic and international. JPMorgan has a solid balance sheet position and a solid capital deployment plan. JPMorgan’s trailing 12-month return on equity (ROE) reflects its growth potential. Over the last four quarters, JPMorgan Chase & Co. surpassed consensus EPS estimates two times.

Ulta Beauty Inc. (ULTA - Free Report) , previously known as Ulta Salon, Cosmetics & Fragrance, Inc., is a leading beauty retailer in the United States.  Shares of Ulta Beauty have outpaced the industry in the past six months. The company has been benefiting from its omnichannel strength. Also, the skincare category has been gaining from consumers’ rising interest in self-care. These upsides aided first-quarter fiscal 2022 results, wherein the top and bottom lines grew year over year and beat the Zacks Consensus Estimate. Results were backed by the strong execution of the company’s strategies and solid guest demand, with the latter gaining from the company’s exciting brand launches. Also, increased in-person activities and travel have been leading to the revival of the beauty category demand. All major categories delivered double-digit comp sales growth. Encouragingly, management raised its fiscal 2022 view.


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