After a brutal month for stocks, JPMorgan released its top picks for May. The firm published its monthly analyst focus list on Monday, which highlights some of the favored stock ideas from analysts at the bank. This list varies slightly each month. Stocks are coming off an April sell-off that brought the Nasdaq Composite to its worst month since October 2008 and the S & P 500 to its worst month since March 2020. Markets faced rate hikes from the Federal Reserve, persistent inflation, the war in Ukraine and Covid case surges in China. For May, JPMorgan added only one new name to its focus list: fertility benefits management company Progyny . Take a look at 10 names on the May focus list. Newcomer Progyny makes the list as a growth strategy idea. JPMorgan has a $74 price target on Progyny, implying 92.5% upside from Friday's close. "We continue to favor the long term macro backdrop for fertility, and we believe that the recent improvement in fertility scripts data should serve as a positive near-term catalyst," analyst Anne Samuel said. Bank of America is JPMorgan's only near-term stock idea in May. The firm added the bank to its list in February. Bank of America reported earnings on April 18, beating analysts' expectations. McDonald's is another returning name on the focus list. The stock falls under JPMorgan's value strategy and has been on the list since February 2018. The fast-food chain's first-quarter results also beat Wall Street's estimates. Other favorite stocks for May include Microsoft , Honeywell and Dollar General . —CNBC's Michael Bloom contributed reporting.
American flags hang from the facade of the New York Stock Exchange (NYSE) building in New York January 28, 2021.
Mike Segar | Reuters
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