Oppenheimer outlined a top buy and sell idea for each S&P sector

Oppenheimer Asset Management spotlighted that the idea of the momentum trade unwinding is largely exaggerated and the firm believes that the market will re-broaden out and continue in its upward trajectory and highlighted a top buy and sell idea for each S&P sector.

“Looking ahead, we’d argue many high-momentum stocks remain core positions and, instead, offense over defense is the key market theme,” the investment institution stated.

Oppenheimer Asset Management outlined below a top buy and sell idea for each of the S&P 500 sectors.

Communication Services: Buy T-Mobile US, Inc (TMUS) and sell Paramount Global (PARA).

Consumer Discretionary: Buy Amazon (AMZN) and sell Newell Brands, Inc. (NWL).

Consumer Staples: Buy Target Corp. (TGT) and sell Monster Beverage (MNST).

Energy: Buy Diamondback Energy (FANG) and sell EQT Corp. (EQT).

Financials: Buy Blackstone (BX) and sell Aon PLC (AON).

Health Care: Buy Cigna Group (CI) and sell Biogen (BIIB).

Industrials: Buy Carrier Global Corp. (CARR) and sell Boeing Co. (BA).

Materials: Buy Martin Marietta Materials, Inc. (MLM) and sell CF Industries Holdings (CF).

REITs: Buy Welltower (WELL) and sell Weyerhaeuser Co. (WY).

Technology: Buy Broadcom (AVGO) and sell Salesforce (CRM).

Utilities: Buy Constellation Energy Corp. (CEG) and sell AES Corp. (AES).