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Oppenheimer listed four stocks that could be great buys as industrials look tactically attractive.
According to an Oppenheimer Technical Analysis note, the S&P 500 Equal Weight Industrials ETF (NYSEARCA:RSPN) has seen “key leadership” through the bull cycle “by stair-stepping higher on a relative basis.”
Analyst Ari H. Wald said that sector rotation can be considered “a hallmark of a healthy advance because leadership is shared, and no group becomes dangerously stretched.”
The sector has corrected through its 200-day average and now has a bullish slope that has near-term opportunity to buy long-term strength.
These are four stocks in the industry that are rated “outperform” by Oppenheimer analysts:
- Uber Technologies, Inc. (UBER) – Buy-rated
- XPO, Inc. (XPO) – Buy-rated
- Republic Services, Inc. (RSG) – Buy-rated
- Knife River Corp. (KNF) – Buy-rated