Brianne Gardner's Top Stock Picks for July 2024

Discover Brianne Gardner’s top stock picks and market outlook for July 2024, including Visa, United Health Group, and Lululemon.

Editorial Team (ET)July 9, 2025

When it comes to making informed investment decisions, few have the keen eye and strategic mindset of Brianne Gardner. As a senior wealth manager at Velocity Investment Partners, Raymond James Ltd, Brianne has established herself as a trusted voice in navigating the complexities of the North American large-cap market. Today, we're diving into her top picks: Visa, United Health Group, and Lululemon.

Market Outlook

The markets are currently awash with optimism. Interest rate expectations continue to be a key driver of volatility and market direction. We're seeing a 95 percent probability of a U.S. Federal Reserve rate cut by September, with Fed Chair Jerome Powell suggesting pre-emptive measures rather than waiting for inflation to hit the two percent target.

In this environment, economic data and earnings reports are closely watched for clues on what to expect next. Interestingly, weak economic data has been positive for the markets, while strong data has been viewed negatively. This inverse relationship highlights the delicate balance investors are navigating.

A year ago, recession fears loomed large. Today, those fears have dissipated, thanks to a healthy yet softening labor market and resilient retail sales figures indicating continued consumer spending.

The first half of 2024 has been particularly strong, primarily driven by the continued dominance of the "Magnificent Seven." July has carried this momentum forward, with the S&P/TSX Composite Index outperforming U.S. markets due to strong performance in the materials sector, driven by metals like gold, silver, and copper. With Canada likely to cut rates faster than the U.S., Canadian stocks could see additional tailwinds in the second half of the year. However, short-term volatility is expected leading up to the U.S. presidential election, followed by a strong post-election rally.

Brianne Gardner's Top Picks

Brianne's top picks are Visa, United Health Group, and Lululemon. Each of these companies offers unique advantages and growth potential, making them standout choices in the current market.

Visa (V NYSE)

Visa stands as a giant in the payment processing market, benefiting from a near-duopoly alongside Mastercard. The societal shift towards cashless transactions has been a boon for Visa, significantly boosting its profit margins. This shift is far from over, and Visa is well-positioned to capitalize on it.

Visa's operational model, which includes reliable sales streams and an ability to adapt to new trends, has driven exceptional performance. Over the past decade, Visa stock has returned more than 400 percent, doubling the S&P 500's performance. With a price target of $311, there is a potential 15 percent upside from current levels.

United Health Group (UNH NYSE)

United Health Group has shown impressive resilience and growth potential. Recently, the stock has rallied significantly, and despite the gains, there is still more room for growth. Analysts have set a target price between $575 and $600, indicating further upside potential.

The last earnings report exceeded expectations, and United Health could benefit from potential political shifts in the U.S. A focus on reducing bureaucracy and improving reimbursement schedules under the Medicare Advantage program could provide a substantial boost. The stock has averaged nine percent annual growth over the last three years and 16 percent annually over the last five years, ranking a solid nine out of ten fundamentally.

Lululemon (LULU NASD)

Lululemon is a recent addition to Brianne's portfolio, and it represents a strategic move into a high-potential retail stock. Despite recent challenges in the retail sector due to high inflation, Lululemon remains a strong contender. The stock is currently oversold, and with recession fears fading, it's trading at a significant discount to its historical valuations. Lululemon's current price offers a compelling entry point, with a price target of $400, implying a 37 percent return from current levels. The long-term growth prospects for Lululemon remain robust, and the market may be underestimating the company's potential.

Conclusion

Brianne Gardner's top picks for July 17, 2024, highlight her strategic approach to navigating the current market landscape. With a focus on companies like Visa, United Health Group, and Lululemon, Brianne emphasizes reliable performance, growth potential, and strategic positioning. As we move forward, keeping an eye on economic data, interest rate changes, and market trends will be crucial for making informed investment decisions.

Bloomberg

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