Shares of small- and midsize companies, or "SMID caps" for short, have lagged behind their large-cap peers in recent years, including 2024.
Large caps may lead for a while longer, Oppenheimer researchers wrote in a July 9 note.
AdvertisementOppenheimerHowever, SMID caps have quietly but consistently built momentum throughout this year, even though they haven't broken out yet.
"Each of these unconfirmed averages are maintaining above prior breakout levels and their 200-day average," Oppenheimer researchers wrote.
Within SMID caps, Oppenheimer is especially bullish on midsize growth stocks.
Persons:
—, Oppenheimer
Organizations:
Service, Nvidia, Business, Medicines, Zeta Global