JPMorgan Highlights American Express and Liberty Energy in October Stock Picks
JPMorgan added five names to its monthly list of favorite stock ideas for October, including American Express, Liberty Energy, and Thermo Fisher Scientific. All three carry overweight ratings.
The list sorts picks into growth, income, value, and short strategies. The October refresh leans away from the crowded AI trade, spanning value, energy and health care.
It follows a split September. The Dow Jones Industrial Average lost 4.3%, the S&P 500 slipped 0.5%, and the Nasdaq Composite gained 1.9%. Over the third quarter, the Dow fell 3% while the other two indexes each advanced at least 2%.
American Express joins as a value play
American Express shares are down 18% year to date amid consumer and credit concerns. The stock closed at $302.78 on Oct. 2.
Analyst Richard Shane points to industry-leading returns and disciplined capital returns. Dividends plus buybacks amount to ~3% of shares annually.
That pace of cash return, paired with the lower price, is the core of the value argument. JPMorgan treats this year's weakness as an entry point rather than a warning.
For investors who want the theme without single-stock risk, American Express made up 1.87% of assets in the Vanguard Financials ETF in the latest holdings data.
Liberty Energy stays on the growth list
Liberty Energy shares have risen 52% over the past year. JPMorgan keeps the oilfield services name on its growth list, citing continued upside from the artificial intelligence boom and the power demand it creates.
Thermo Fisher rounds out the additions. Shares climbed more than 25% in three months, helped by a strong financial outlook and a new early disease detection partnership with Mayo Clinic.
Barchart data show SPDR S&P 500 ETF total returns averaging 2.27% in October since 2010, third among all 12 months behind November at 3.09% and July at 2.79%. September averaged a 0.48% loss over the same stretch.
The spread across a beaten-down card issuer, an energy services firm, and a lab equipment maker signals a bank hedging its fourth-quarter bets rather than chasing momentum. Whether the value side pays off depends on US consumer credit holding up through year-end.
