Global investment bank Nomura (NMR) on Tuesday started a "conviction buy list" that covers U.S. equities in a bid to bolster its research strength in U.S. markets.
The list, which will be managed by Nomura's head of U.S. equity research Michael Rietbrock, will include stock picks the company expects will outperform the S&P 500 index over a one-year period.
From the outset, Nomura has included a handful of well-known U.S. firms spanning several sectors. The initial names on the list are: Limited Brands (LTD), PetSmart (PETM), Viacom (VIAB), PNC Financial (NYSE:PNC), Goldman Sachs (GS), Dover (DOV), Marriott International (MAR), Maxim Integrated Products (MXIM), Cablevision (CVC) and News Corp. (NWSA), the parent company of FOX Business.
Nomura's list will ultimately include 10 to 25 stocks that have at least $5 million in daily trading volume and be re-balanced quarterly.