Wall Street firms are weighing what GOP control of the House and/or Senate looks like for stocks and what names are poised to outperform.
With midterm elections underway, investors are waiting to see if, and how, the results may weigh on stocks — and which names will outperform. The market is expecting Republicans to at least gain control of the House and is rising for a third straight day on Tuesday. RBC's head of U.S. equity strategy, Lori Calvasina, believes there may be a rally if Republicans get a majority in one or both chambers of Congress. How much of one depends on what happens.
Some 84% of analysts who cover the stock rate it a buy. Alaska Air recently reported third-quarter earnings that beat analyst expectations, thanks to a busy travel season. While tech has been slammed this year, Alphabet and Match Group are analysts' favorites within the communication services group. Google-parent Alphabet is down about 38% year to date but has nearly 45% upside to the average analyst price target. Some 75% of analysts covering the stock rate it a buy.
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