Evercore ISI 发布《Best Idea List for 2026》解读
This report is built on two core themes:
👉 K-shaped economic recovery
👉 AI-driven future
Evercore ISI believes the market will clearly diverge in the future:
Some companies will benefit from the AI wave and high-income consumer spending
Others will rely on policy stimulus and middle-class demand recovery
1. Retail & Consumer
Evercore ISI expects future tax cuts to directly boost consumer spending power, especially benefiting price-sensitive consumers.
Walmart (WMT)
Ranked as the #1 retail pick. As a defensive retail giant, consumers are most likely to spend their tax cut benefits at Walmart.
Amazon (AMZN)
Ranked #2. Beyond its e-commerce leadership, AWS continues to benefit from corporate IT spending growth, while discretionary spending recovery will also boost its main business.
Home Depot (HD)
Betting on "housing policy changes." If policies loosen or interest rates drop, home renovation and improvement demand is expected to surge.
2. Power, Automation & Industrials
This view aligns closely with Jefferies' earlier assessment:
👉 The real bottleneck for AI lies in power and automation infrastructure
GE Vernova (GEV)
Expected to maintain over 10% organic revenue growth through 2028. As an energy company spun off from GE, it's a core beneficiary of grid upgrades.
Hubbell Inc (HUBB)
Compared to highly hyped AI concept stocks, its electrical equipment business valuation remains relatively reasonable.
Honeywell (HON)
Considered to have the richest and clearest catalyst path in this sector.
3. Media & Technology
Live Nation (LYV)
Top pick in media. Live entertainment (concerts) demand remains strong, with accelerating revenue growth.
Arista Networks (ANET) & Apple (AAPL)
Viewed as core assets for long-term outperformance. Despite expensive short-term valuations, the long-term thesis remains solid.
4. K-Shaped Recovery & Value Plays
This is the most defensive sector, with the core thesis being middle-class recovery.
Consumer Staples
Mondelez (MDLZ): Snacks
Colgate-Palmolive (CL): Daily necessities
Darden Restaurants (DRI): Affordable dining
These companies have inflation-resistant capabilities, stable cash flows, and are typical value stocks.
Lithia Motors (LAD)
Auto retailer betting on cyclical rebound in car sales.
5. Market Outlook
S&P 500 target: 7,750 points (end of 2026)
Evercore ISI remains optimistic about US stocks' medium-to-long-term trend.
They believe:
👉 The AI revolution is still in early stages
👉 Despite increased market volatility, AI will continue pushing valuation multiples higher
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