These stocks may win as consumers get back to normal this Memorial Day weekend, Bank of America says
Consumer retail, apparel and food and beverage companies are well positioned ahead of the holiday weekend, according to Bank of America, as the U.S. continues to recover from the Covid-19 pandemic and consumers are expected to return to social gatherings and events around the holiday.
“As the U.S. heads into the long weekend for Memorial Day with COVID-19 case counts that are near 1-year lows, we expect some return to more ‘normal’ consumer behavior around the holiday weekend, including social gatherings (barbecues, pool parties), and road trips,” the note to clients Friday said.
B of A highlighted several buy-rated stocks that are poised to benefit from summer activities. Home improvement and housing-related spending, furniture and home goods and gas station sales have all continued to climb in recent weeks, tracking above 2019 levels, it showed.