Telsey Advisory Group analyst Dana Telsey on Tuesday provided an overview of which consumer sectors were the best performers in the third-quarter and highlighted some “stocks with potential.”
Sectors: One of the sectors highlighted by Telsey Advisory Group was the Off-Price group including TJX Companies, Inc. TJX, Burlington Stores, Inc. BURL and Ross Stores, Inc. ROST. All three of these companies in the Off-Price sector raised their annual profit outlooks in the third quarter, suggesting the discount retailers see benefits from a potentially cash-strapped consumer.
Read Next: Waymo’s Autonomous Vehicles Are Safer Than Human Drivers: Report
Another sector of the Telsey Advisory Group’s coverage that saw all companies in the firm’s coverage raise their annual profit outlooks was the Digital/New Economy sector. Stitch Fix, Inc. SFIX, ThredUp Inc. TDUP and eyewear retailer Warby Parker Inc. WRBY comprise the Telsey Group’s coverage in this sector.
“Some Stocks With Potential”: The firm also highlighted Warby Parker as one of its “stocks with potential” and sees its operating momentum continuing in 2025 driven by enhanced telemedicine capabilities, expanded insurance coverage and scaling its contact lens business.
Telsey Advisory named Bath & Body Works, Inc. BBWI as a stock with potential following its earnings and revenue beat-and-raise report for the third quarter. It also sees the store as a “holiday winner” with its strong gift assortment.
The final “stock with potential” listed in the research note is RH RH which Telsey Advisory Group analyst Cristina Fernandez upgraded from Market Perform to Outperform last week. The analyst also raised the price target from $485 to $500 as she anticipates the retailer’s strong demand trend to continue as the housing market begins to recover and new stores in European markets are opened.
Read Next:
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
