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Bank of America says these could join a ‘billionaire club’

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Analysts at Bank of America have picked out beauty stocks that they believe will come back “stronger than ever” from the coronavirus pandemic.

Within the beauty industry, the “sweet smell of opportunity” is likely to come from the $26 billion perfume market, according to BofA in a research note published in May.

While fragrance sales decreased $5 billion year-over-year in 2020, the sector is set for a rebound due in part to a better e-commerce experience for shoppers, the analysts said. Some fragrance brands could become part of a “billionaire club,” they added, meaning they could make more than $1 billion in annual product sales.

BofA’s buy-rated stock picks are: