BTIG shared its newest additions to its list of top stock picks heading into the second half of 2024. While investors kicked the year off largely calling for a broadening of the rally, BTIG chief market technician Jonathan Krinsky is no longer sure of this outcome. In 2024, the S & P 500 has added 16.7%, while the Russell 2000 small-cap index is little changed on the year. However, Krinsky pointed out that so far, the equity market’s leadership has been rotating between different megacap names. This high concentration in large-cap stocks could lead to bigger risks later this year. “Mega-caps continue to play ‘whac-a-mole’, where one name takes a breather while another picks up the slack,” he wrote. “The obvious biggest risk for 2H is if those names all begin to fall together.” With this backdrop in mind, BTIG shared its list of top stock picks going into the second half of the year. BTIG has a buy rating on all of these tickers, and the firm also added 20 new names to this basket. One of the newest additions to BTIG’s list was athleisure retailer Lululemon Athletica . Year to date, the stock has slipped more than 41%. However, analyst Janine Stichter’s $425 price target implies that shares could rise about 42% from Friday’s close. “Despite recent noise, LULU remains one of the most consistent growth stories in retail. Backed by a strong brand, the company has proven its ability to weather various macro, fashion, and competitive cycles,” the analyst wrote. Looking ahead, Stichter sees growth coming from the brand’s foray into men’s clothing and newer items such as footwear. The analyst also cited growing brand awareness and continued square footage expansion as catalysts. Aerospace and defense firm Northrop Grumman was also one of the newest additions to the list. Analyst Andre Madrid’s price target of $565 corresponds to roughly 30% upside for the stock. Shares of Northrop Grumman have slipped 7% this year. However, Madrid wrote that he views the company as one of the “best positioned defense primes in the current global threat environment.” “We expect the company to be one of the fastest growing among the defense prime contractors through the remainder of the decade for two reasons: 1) exposure to high growth end markets, like space and 2) incumbency on multiple critical Programs of Record that are deemed critical to national security,” the analyst said. “Coupled with strong free cash flow that is largely returned to shareholders through buybacks and dividends, we see NOC as the most attractive long-term defense name.” Dexcom , which makes continuous glucose monitoring devices, was also newly added to BTIG’s list of top tickers. Analyst Marie Thibault thinks the stock’s 8% year-to-date slide has opened up an attractive entry point. “We see exciting growth opportunities and catalysts in the next six months for DXCM and view the recent stock pullback on fears of salesforce disruption as an opportunity to acquire shares at a relative discount,” she wrote. More specifically, Thibault thinks the company’s growing patient base could position it for strong recurring revenue. Her price target of $156 is approximately 37% higher than the stock’s Friday closing price of $113.69. Cybersecurity company Okta was one returning name to the list. Analyst Gray Powell has a price target of $128 on the stock, which translates to roughly 33% upside. “We are reiterating OKTA as our top pick as we believe it has the most potential to re-rate of any name in our coverage as execution improves and the company moves further past the breach headlines from October 2023 ,” the analyst wrote. Okta has added more than 6% on the year. Other existing names on BTIG’s list of top stock picks include Steve Madden , Block and Domino’s Pizza .