| | | All J.P. Morgan's top stock picks for 2026
Dec. 31, 2025 12:44 PM ET
By: Kim Khan, SA News Editor
J.P. Morgan identifies specific traits that define their Best Ideas for 2026.
These companies typically possess:
- Strong Financial Health: Robust balance sheets and strong free cash flow generation.
- Pricing Power: The ability to maintain margins and pricing leverage.
- Secular Growth Exposure: Direct ties to major trends like AI, data centers, and infrastructure.
- Operational Excellence: Management teams that execute well on efficiency and capital allocation, often leading innovation or benefitting from industry consolidation.
- Regulatory Alignment: Positioned to benefit from current policy or regulatory tailwinds.
Dominant Investment Themes for 2026
The report highlights three major thematic drivers for the upcoming year:
- AI & Data Center Expansion: Continued secular growth driven by artificial intelligence and the physical build-out of data centers.
- Infrastructure & Electrification: Tailwinds from necessary upgrades to power grids and physical infrastructure.
- Quality & Resilience: A shift toward "quality growth"—companies that can withstand macro and cyclical uncertainty.
Strategic Focus for Investors
- Be Selective: Maintain selectivity in the face of macroeconomic and regulatory uncertainty.
- Watch Capital Actions: Look for M&A activity and capital returns (dividends/buybacks) as key performance drivers.
The top picks, all rated Overweight, with price targets:
- Allstate ( ALL) OW $260.00
- Alphabet ( GOOG) OW $385.00
- Alphabet Inc. ( GOOGL) OW $385.00
- Amicus Therapeutics ( FOLD) OW $19.00
- Arista ( ANET) OW $175.00
- AT&T ( T) OW $33.00
- AutoZone, Inc. ( AZO) OW $4,100.00
- Avery Dennison ( AVY) OW $195.00
- Boeing Company ( BA) OW $240.00
- Boston Scientific Corporation ( BSX) OW $135.00
- Bright Horizons ( BFAM) OW $160.00
- Broadcom Inc ( AVGO) OW $475.00
- Canadian Pacific Kansas City (CP.TO) OW C$124.00
- Carvana ( CVNA) OW $490.00
- Caterpillar Inc. ( CAT) OW $730.00
- CBRE Group, Inc ( CBRE) OW $196.00
- Celsius Holdings ( CELH) OW $68.00
- Charles Schwab ( SCHW) OW $121.00
- Citigroup Inc. ( C) OW $124.00
- Commercial Metals Company ( CMC) OW $78.00
- CRH Plc ( CRH) OW $135.00
- CVS Health ( CVS) OW $101.00
- Dana Inc ( DAN) OW $28.00
- Devon Energy ( DVN) OW $44.00
- Digital Realty Trust ( DLR) OW $210.00
- Disney ( DIS) OW $138.00
- DraftKings Inc. ( DKNG) OW $42.00
- Eli Lilly & Company ( LLY) OW $1,150.00
- Entergy Corp. ( ETR) OW $108.00
- Exxon Mobil Corp ( XOM) OW $124.00
- GE Vernova ( GEV) OW $1,000.00
- Globe Life Inc ( GL) OW $180.00
- Guidewire Software ( GWRE) OW $300.00
- KLA Corporation ( KLAC) OW $1,485.00
- LendingClub Corp ( LC) OW $25.00
- McCormick & Co., Inc. ( MKC) OW $79.00
- Mohawk Industries ( MHK) OW $152.00
- Palo Alto Networks ( PANW) OW $235.00
- PPG Industries ( PPG) OW $117.00
- Ralph Lauren Corporation ( RL) OW $430.00
- Revolution Medicines ( RVMD) OW $92.00
- Roku ( ROKU) OW $125.00
- Salesforce Inc ( CRM) OW $365.00
- SLB ( SLB) OW $43.00
- Starbucks ( SBUX) OW $95.00
- Synopsys Inc ( SNPS) OW $650.00
- The Williams Companies, Inc. ( WMB) OW $73.00
- Thermo Fisher Scientific ( TMO) OW $675.00
- TPG RE Finance Trust ( TRTX) OW $10.50
- TransUnion ( TRU) OW $107.00
- United Airlines Holdings Inc ( UAL) OW $156.00
- Valley National Bancorp ( VLY) OW $14.50
- Valmont Industries ( VMI) OW $480.00
- Vertiv ( VRT) OW $230.00
- Viking Holdings ( VIK) OW $74.00
- Visa Inc. ( V) OW $430.00
- Xenon Pharmaceuticals ( XENE) OW $60.00
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