Credit Suisse believes the July stock market rally will continue, and has a list of names that could continue to ride the momentum from here. Stocks capped a strong month on Friday, rallying sharply off their June lows, as traders bet that markets have already priced in the most likely recession expectations and shifted into more risky assets. The tech-heavy Nasdaq Composite jumped more than 10% in July. The comeback could continue in August, led by more speculative assets, according to Credit Suisse. The investment bank pointed to a more dovish stance from the Federal Reserve, which last week issued assurances that the US economy is not in a recession, helped by a robust labor market. “With commodity prices falling and economic data softening, inflation is projected — based on both breakevens and economist forecasts — to steadily decline over the next 24 months,” Credit Suisse senior equity strategist Patrick Palfrey wrote in a Thursday note. “We believe this will lead the Fed to pivot towards more dovish policy as we move towards the latter part of the year, supporting a continuation of the market’s current rally and factor leadership,” Palfrey added. To be sure, today’s favored stocks could get hurt should investors return to a defensive tilt. Still, Credit Suisse identified stocks that have the most exposure to five factors that have led this month’s rally, and could continue riding the momentum higher: Speculative, expensive, beaten down, volatile and highly shorted. Since the June lows, speculative stocks that have a strong correlation to Bitcoin rallied 16.8%, while expensive assets with a high P/E jumped 16.6%. Meanwhile, the S & P 500 returned 9.9% over the same period. Here are 10 names that Credit Suisse believes could rally further from current prices: Generac met Credit Suisse’s criteria, and can continue to rally from here, the bank said. The backup power stock was recently given an overweight rating by Wells Fargo, which considers the Wisconsin-based company a climate change winner as homeowners cope with an increasingly unstable power grid. Shares are down 23% year to date. Etsy could continue to surge higher from its current price. The e-commerce company has a “best-in-class marketplace model with visionary management team,” according to a note last month from Raymond James that gave Etsy an outperform rating. Shares are 50% lower this year. Some cruise stocks could get a boost from any continued rally. Susquehanna initiated coverage of Norwegian Cruise Line Holdings last month with a positive rating, citing its pricing power. The stock is down about 40% this year. Other stocks included on the Credit Suisse screen include Ceridian, American Airlines, Carnival, Caesars Entertainment, Penn National Gaming, Salesforce and Intuit.