Top Picks by Oppenheimer for September

As the stock market rebounds to near all-time highs, Oppenheimer has identified a selection of companies poised for continued growth as September approaches. Following an eight-day rally that erased earlier losses, Wall Street is optimistic about the upcoming months. Oppenheimer has compiled a list of 32 stocks that it believes will perform well as summer transitions into fall, all of which are rated as buys by the firm’s analysts. Among the highlighted companies is chipmaker Broadcom, whose shares have surged 50% in 2024. Analyst Rick Schafer notes Broadcom's strong position in the semiconductor industry, particularly in the high-end filter market, and its stable business segments that do not depend on mobile applications for growth. Oppenheimer has set a price target of $200 per share, suggesting a potential upside of over 19% from its recent close of $167.71. Additionally, Oppenheimer analysts are optimistic about DraftKings (DKNG), which they believe will capitalize on the shift from illegal to licensed sports betting in the U.S. Analyst Jed Kelly emphasizes the company's strengths in product development and customer acquisition, projecting a price target of $55 per share, indicating nearly 60% upside potential. Goldman Sachs also features on Oppenheimer's list, with shares up approximately 31% this year. The firm has set a price target of $548 per share, suggesting a nearly 9% upside ahead for the investment bank.