Telsey Advisory Group's Retail Rundown: Top Stocks To Own In 2024
Portfolio Pulse from Erica Kollmann
Dana Telsey of Telsey Advisory Group shared her top retail stock picks for 2024 on CNBC, highlighting Ralph Lauren (RL) and Bath and Body Works (BBWI) for their innovation and growth potential. She predicts RL could reach $165 and praised BBWI's loyalty program. Telsey was optimistic about Target (TGT) due to upcoming brand collaborations and merchandise enhancements. However, she expects Estee Lauder (EL) to face a challenging year with earnings pressure, despite new product innovations in late 2024. Telsey sees opportunities in the luxury goods sector, mentioning LVMH's strength and Tapestry's (TPR) growth potential after its business combination with Michael Kors.
December 27, 2023 | 8:38 pm
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NEGATIVE IMPACT
Estee Lauder is expected to have a difficult year in 2024 with earnings pressure, especially from the Chinese market, despite new products later in the year.
The negative outlook for Estee Lauder, particularly due to challenges in China, could lead to bearish investor sentiment and a potential decline in stock price.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
Telsey is optimistic about Bath and Body Works' growth in 2024, highlighting its strong loyalty program with 41 million members.
The emphasis on Bath and Body Works' loyalty program and its potential to drive growth is a positive signal for investors, indicating possible stock appreciation.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Telsey Advisory Group expects Ralph Lauren to see low to mid-single digit sales growth and reach $165 in 2024, from around $145 currently.
The positive outlook and specific price target provided by Telsey suggest a bullish sentiment for Ralph Lauren, which could lead to increased investor interest and a potential rise in stock price.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Target is expected to see growth from brand collaborations and merchandise enhancements, with a focus on margin recovery in 2024.
Telsey's comments on Target's future initiatives could lead to positive investor sentiment, potentially boosting the stock in the short term.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Tapestry is highlighted for potential growth in 2024 following its business combination with Michael Kors.
The mention of Tapestry's business combination with Michael Kors as a growth driver could attract investor interest, potentially leading to a positive impact on the stock.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80