Tom Lee, Fundstrat Global Advisors
Scott Mlyn | CNBC
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Fundstrat Global Advisors’ Tom Lee has updated his list of “epicenter” stocks he believes will rally as the rollout of Covid-19 vaccines fuels an economic resurgence in the United States.
Lee, who is a CNBC contributor, told Fundstrat clients in an email that he’s added 21 stocks to the list and removed 10, bringing the total number in the so-called Epicenter Trifecta group up to 121. Lee is one of few strategists on Wall Street who, by and large, correctly predicted the stock market’s dramatic ups and downs last year.
He noted that the list is titled toward cyclical stocks, those that tend to rise and fall in step with the broader U.S. economy.
Contributing to his outlook for a healthier economy is an acceleration of the vaccine rollout, marked declines in the number of cases, strong credit markets and government timelines to reopen portions of the economy.
“Overall, it seems like the US is on track for sub-50,000 cases by the end of the month,” Lee wrote. “And potentially 25,000 daily case rate by mid-March. And if the vaccinations keep tracking, both in the dosing and in the effectiveness, the pace of improvement could be faster.”
Originally published at CNBC