Walmart and Eli Lilly Among JPMorgan's Top Stock Picks Ahead of Earnings

Despite the turbulent backdrop of Iran-driven oil price volatility and an ongoing earnings season, JPMorgan analysts remain optimistic about several stocks. Walmart (WMT) shares have lost nearly 20% since mid-May, but JPM sees AI-driven ultra-fast delivery as a competitive edge that should boost demand and margins in its upcoming August 20 earnings report.

The investment firm currently holds an Overweight rating on WMT with a $137 price target, indicating potential upside of nearly 25%. A 0.89% dividend yield makes Walmart Inc even more attractive as a long-term holding.

Eli Lilly (LLY) shares have also been in a downtrend, losing about 9% since early July. JPMorgan analysts expect the upcoming August 5 earnings report to mark the beginning of their recovery, driven by next-gen obesity treatments.