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Holiday Stocks: Some Surprises (Part 2)

It's shaping up as one of the worst holiday-shopping seasons in recent memory for America's department stores, but there are some exceptions on the retail landscape, according to David Strasser of Banc of America Securities.

"I think the warehouse clubs could surprise on the negative side," Strasser told CNBC.

"Their discretionary business is tough, and I think as you get closer to the holidays, even their food business becomes more discretionary."

Recommendations:

So who's in Strasser's "plus" column?

"I think Walmart is going to be very solid," Strasser said.

And while the warehouse clubs may disappoint on the downside, he sees things looking surprisingly good for Best Buy.

"There's no common-sense reason why Best Buy should do well, when you look at what they're selling — but when you take it category by category, they have some big market-share gains and some categories that are still going to be pretty good," he said.

Disclosures:

Walmart and Best Buy are investment-banking clients of Strasser's firm.

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