Goldman Sachs published their Americas Retail report for 2024 with stock picks and ideas for the retail sector. Their top pick for 2024 is Target Corporation. They believe Target and other retailers like Bath & Body Works, Best Buy, and Dollar General could see sales acceleration in 2024 as demand normalizes. Other buy-rated stocks mentioned are Home Depot, AutoZone, O'Reilly Automotive, Costco, Walmart, DICK'S Sporting Goods, and Petco. Goldman's best small and mid-cap pick is Ollie's Bargain Outlet. Their best sell idea is Foot Locker. Analysts believe 2024 could see more upside for retailers compared to the last two years due to healthy consumer trends and a strong labor market.
