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⚜️ Wells Fargo's high-conviction ideas for Q2 - 𝐏𝐚𝐫𝐭 𝟏/𝟑 ⚜️ 🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣 𝑮𝒓𝒆𝒆𝒕𝒊𝒏𝒈𝒔 𝒇𝒆𝒍𝒍𝒐𝐰 𝐜𝐨𝐩𝐢𝐞𝐫𝐬, 𝒕𝒓𝒂𝒅𝒆𝒓𝒔 𝒂𝒏𝒅 𝒆𝑻𝒐𝒓𝒊𝒂𝒏𝒔. Wells Fargo has updated its Tactical Ideas list which features 14 high-conviction and catalyst-driven long and short ideas for Q2. These stocks across 11 subsectors are set to see significant catalysts in the current quarter that can drive meaningful upside or downside. Here’s a list of the 10 Overweight and 4 Underweight ideas from the firm, and the catalysts expected to drive upside or downside. 💡 Overweight tactical names are: 💡 1. $AMZN Price target: $217 (up from $211) Analysts: “We believe the recently announced FBA fee restructuring is the next leg of retail margin expansion for AMZN, driving an estimated $5.2B of annualized NA retail OI accretion. We raise 2Q OI to $14.5B (15% above Street) to reflect this change.” 2. Annexon (ANNX) Price target: $12 Analysts: “We remain bullish on shares as we believe the Street underappreciates ANNX's ANX005 program in Guillain-Barré syndrome (GBS) and that it has a >50% odds of success. Additionally, we remain cautiously optimistic on ANX007's chances in its Phase 3 trial.” 3. $AVTE Price target: $35 Analysts: “Based on our deep dive of the trial's key risks and merits, we are confident in positive data from IMPAHCT. In our scenario analysis, we see shares up 60% in our base case, with 100%+ upside in our bull case.” 4. $C Price target: $80 Analysts: “Citigroup (our #1 pick) is at the start of a multi-year inflection that should reflect better efficiency and returns, as its historical underperformance (incl. worst-in-class 4Q23) becomes best-in-class 2024 positive operating leverage (+4-5%).” 5. $DVN Price target: $59 Analysts: “Based on the timing, locations, and DSU well density of recent drilling and completion activity in the Delaware Basin, along with likely conservative assumptions baked into the FY24 production guide, we believe DVN is likely to provide a better-than-expected Q2’24 production guidance along with Q1’24 earnings release and begin to beat & raise throughout the year.” 𝐇𝐚𝐯𝐞 𝐚 𝐠𝐫𝐞𝐚𝐭 𝐝𝐚𝐲 𝐚𝐧𝐝 𝐡𝐚𝐩𝐩𝐲 𝐭𝐫𝐚𝐝𝐢𝐧𝐠. 𝑩𝒆𝒔𝒕 𝑹𝒆𝒈𝒂𝒓𝒅𝒔, 𝓚𝓻𝓲𝓼 🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣