JPMorgan has an updated list of top ideas from its team of analysts as August kicks off a new trading month. The stock market sailed through choppy waters in July. The Iran war caused oil prices to remain volatile, companies began to report strong second-quarter profits and the Federal Reserve under new Chairman Kevin Warsh voted to keep benchmark lending rates unchanged even as Warsh pledged to bring down inflation . For all the drama, the S & P 500 and Dow Jones Industrial Average ended the month little changed. But JPMorgan sees dozens of stocks with potential upside. Each month, analysts at JPMorgan compile their top plays tied to one of the following investment themes: growth, income, value and short ideas.This month, the analysts didn’t add any stocks to their top picks, while removing a pair of energy providers. Here are 10 stocks that made the JPMorgan list: Walmart is a growth-oriented consumer stock, the JPMorgan analyst says. Shares have fallen by 16% in the past three months after the Bentonville, Arkansas-based retailer issued a worse-than-expected outlook for the fiscal year in conjunction with its first-quarter earnings in May. But Mizuho echoes JPMorgan’s positive view, choosing Walmart as a top pick in late July, and repeating an overweight investment opinion, citing improvements in its delivery network amomng other catalysts. “We undertook an extensive analysis of Walmart’s (WMT) ultra-fast delivery network — relying heavily on AI to stress-test delivery times, identify pockets of opportunity and quantify the number of dark stores needed to facilitate 30-minute nationwide delivery,” analyst David Bellinger said. “Our findings indicate WMT’s network design is still underappreciated, and developing into an increasingly powerful competitive edge/demand consolidator.” Another stock chosen by JPMorgan analysts is drug manufacturer Eli Lilly . For its part, Goldman Sachs reiterated a buy rating on Lilly in a July 24 note to clients in advance of the Indianopolis-based drugmaker’s second-quarter earnings. Eli Lilly shares struggled earlier in the year as its new oral weight-loss pill, Foundayo, underperformed compared to competitors . But the stock has since rallied following impressive first-quarter results that topped analyst estimates thanks to strong Mounjaro sales. “LLY shares have rallied +39% since the company’s 1Q26 print, which featured an impressive beat/raise driven by [outside the United States] Mounjaro and marked a turning point that served to shift the narrative toward the strength across the entire incretin franchise,” Goldman analyst Asad Haider said. “Heading into 2Q26 earnings (Aug 5th), we anticipate the same themes will remain in focus, albeit on a more solid foundation given updates over the past 2 months have further boosted confidence on the company’s rapidly evolving next-gen obesity engine.” JPMorgan removed Cheniere Energy and Targa Resources from its monthly collection of stock recommendations.
