Wells Fargo's top stock picks for 2020: RealReal Inc. Burlington Stores Inc. Can you guess the others?
Among Wells Fargo’s top picks for 2020 are L Brands Inc., the parent company to Victoria’s Secret, which is struggling through a turnaround, and RealReal Inc., the luxury secondhand retailer that’s emerging from a controversy about the authenticity of its goods.
As Victoria’s Secret struggled to regain favor in the past year, L Brands LB, -3.48% stock has tumbled more than 33%. The company has taken steps to refocus on the lingerie brand, like shuttering Henri Bendel. See: Victoria’s Secret Fashion Show canceled as talk of a spinoff or Bath & Body Works IPO arises again
Wells Fargo also upgraded a number of retailers to overweight from equal weight including Calvin Klein parent G-III Apparel Group Ltd. GIII, +0.36% ; DSW parent Designer Brands Inc. DBI, +1.97% ; and Michael Kors parent Capri Holdings Ltd. CPRI, +0.34% .
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