Retail stocks to buy despite recent pressure: analyst
Retail stocks have been under pressure as investors fear a looming recession, but one analyst has named stocks he considers a buy as consumer spending shows no signs of slowing down.
Brian Nagel, equity research analyst at Oppenheimer, told BNN Bloomberg that the U.S. consumer appears to be holding up and he sees the dip in retail stocks as an opportunity that investors are overlooking.
“There’s a great deal of consumer resiliency out there despite major pressures such as higher rates, inflation,” he said in a television interview.
Nagel recommended Lowe’s Companies (LOW), CarMax (KMX) and Nike (NKE) as his top three stock picks within the retail sector.
He, his family, his firm and his investment banking clients do not own any shares of in the stocks mentioned above.
For the full interview, click on the video at the top of this article.
Brian Nagel, equity research analyst at Oppenheimer, told BNN Bloomberg that the U.S. consumer appears to be holding up and he sees the dip in retail stocks as an opportunity that investors are overlooking.
“There’s a great deal of consumer resiliency out there despite major pressures such as higher rates, inflation,” he said in a television interview.
Nagel recommended Lowe’s Companies (LOW), CarMax (KMX) and Nike (NKE) as his top three stock picks within the retail sector.
He, his family, his firm and his investment banking clients do not own any shares of in the stocks mentioned above.
For the full interview, click on the video at the top of this article.
