J.P. Morgan’s 2 Stock Picks With Over 80% Upside Potential

Less than two weeks into the new year, the key question is coming clear: should we buy the dip? The markets are swooning a bit, so far in January. Both the S&P 500 and the NASDAQ are registering losses in 2022’s cumulative trading sessions – 2% on the S&P, and 4.5% on the NASDAQ.

A combination of headwinds and tailwinds are pushing on equities. The former include the Omicron wave of COVID-19, as well as ongoing disruptions in the supply chains and labor markets. On the positive side, Omicron is looking both less dangerous and more contagious, leading to the possibility of mass natural immunity with less death, and marking an end in sight for the pandemic. And, the Federal Reserve is signaling that it will begin raising interest rates later this year. That move promises to put damper on rising inflation rates, with long-term benefits.

Overall, there is room for optimism, as pointed out by JPMorgan’s global markets strategist Marko Kolanovic: “We believe there is further upside for stocks and the dip driven by the Omicron scare should be bought into. The new variant is proving to be milder, and the adverse impact on mobility much more manageable.”

Turning to the general economic situation, Kolanovic adds, “Inventories are very low and the labor market is staying strong. We continue to see gains for earnings, and believe that consensus projections for 2022 will again prove too low.”

With this in mind, we wanted to take a closer look at two stocks that received JPMorgan’s stamp of approval, with the firm projecting upside potential of more than 80% for each. Using TipRanks’ database, we found out that the rest of the Street is also on board as both have earned a “Strong Buy” consensus rating.

Driven Brands Holdings (DRVN)

We’ll start with Driven Brands, North America’s largest automotive services company. Driven Brands is a holding company, operating a wide range of auto service locations through its subsidiaries. The services are offered in four divisions, including Maintenance; Paint, Collision, & Glass; Platform Services; and Carwash. Brands…

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