JPMorgan has updated its list of preferred stocks for October, assigning an overweight rating to American Express, Liberty Energy, and Thermo Fisher Scientific. These additions follow a mixed September, during which the Dow Jones Industrial Average fell 4.3 percent, the S&P 500 declined 0.5 percent, and the Nasdaq Composite rose 1.9 percent.
American Express, categorized by the bank as a value stock, closed at $302.78 on October 2, marking an 18.16 percent decline year-to-date. Despite concerns regarding consumer spending and credit rates, analyst Richard Shane maintains a positive outlook, citing the company's high returns and consistent capital distribution through dividends and share repurchases.
Liberty Energy, identified as a growth pick, has seen its shares rise 52 percent over the past year. The company's Liberty Power Innovations unit has a multi-year agreement to supply up to 1 gigawatt of power to Vantage Data Centers by 2030. Analysts anticipate that the ongoing power deficit will continue to drive demand for distributed generation.
Thermo Fisher Scientific, another growth selection, closed at $654.80 on October 2, reflecting a 13 percent increase year-to-date and a 25 percent gain over the last three months. The company recently partnered with the Mayo Clinic to launch Precure, an early disease detection venture. Analysts expect further growth driven by AI adoption and biopharma reshoring.
