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Here are JPMorgan's favorite stock picks for August

Published Mon, Aug 1 20222:47 PM EDT

Sarah Min @_sarahmin

JPMorgan added three new names to its top stocks list for August, including a biotechnology company and a stainless steel manufacturer. The investment firm named Akero, Carpenter Technology and Alabama-based Regions Financial to its focus list, according to a Monday note. Analysts submit their best ideas for near term-, growth-, value- and short investment strategies. Two stocks are considered best ideas for near-term strategies, while the third is a growth name. Here are the three new picks: Source: JPMorgan Biotechnology company Akero was named a top pick for near-term investors by analyst Eric Joseph, who said that a promising drug candidate from the firm could serve as a catalyst for the stock price. Shares have been cut almost in half this year. Carpenter Technology , a maker of stainless steel and other alloys, was named a growth stock. Analyst Michael Glick said the company's earnings will recover thanks to a recovery in the aerospace sector. "We believe execution along those lines will drive a rerating of the stock," Glick wrote. Bank holding company Regions Financial could be part of a near-term strategy for investors. Analyst Vivek Juneja said Regions has done a better job preparing for volatility, positioning it for stronger net interest income growth than its peers.

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