Cosmetics retailer Ulta Beurty was added to a list of stocks Jefferies says should top the market this year.
It joined Jefferies' updated Franchise Picks List, representing the stocks the firm believes will outperform the broader market over the next 12 months. The list, which has beaten the market since Jefferies started it in 2013, includes a wide variety of companies of various sizes from several industries.
Jefferies removed air and ventilation company Ingersoll-Rand from the list, which it updates periodically.
"Stocks are added to the Franchise Pick list in conjunction with pieces of research containing differentiated analysis, and/or opportunistically when stock moves create compelling entry points," the analysts said in a note.
Here are three of the companies Jefferies sees as high-conviction buys.