JPMorgan added new names to its top stock picks in February, including medical technology companies that rallied strongly to start the year. The S&P 500 had its best January in four years, rising 6.2%. The Nasdaq Composite also had its strongest month since July, adding 10.7%. The Dow Jones Industrial Average rose 2.8% last month. Investors are starting the year on a hopeful note, as sluggish inflation metrics have helped spur a rally and speculation that the Federal Reserve may begin reining in its tightening campaign. The central bank raised interest rates by 0.25 percentage points on Wednesday and signaled that they would “continue” to raise them. For February, JPMorgan added five new names to its Focus List: Cenovus Energy, CMS Energy, Rogers Communications, Stryker and Treace Medical Concepts. Stryker started 2023 with a bang. Medical technology stocks are up 12% year to date. Analyst Robert Marcus highlighted the company’s “strong organic sales growth performance with upside potential, improved operating margins, and a healthy rhythm of new innovation.” JPMorgan said the new additions of CMS Energy and Cenovus Energy are uniquely positioned in the industry, according to the note. Cenovus has “attractive valuations coupled with high leverage for the narrow WTI-WCS differential expected in 2023,” wrote analyst John Royall, pointing to the price difference between West Texas Intermediate and Western Canadian Select crude. “CVE is one of the few companies in our coverage that is returning more capital to shareholders next year than this year,” he said. Cenovus shares are up 27% over the past 12 months. Returning names on the list include fast food giant McDonald’s and tech heavyweight Amazon. Amazon shares have fallen more than 30% in the past 12 months, but have rallied to start the year, rising more than 24% in 2023. The company recently announced a wave of layoffs in January and is preparing to release earnings on Thursday. McDonald’s reported quarterly results on Tuesday that topped analysts’ estimates. However, the company’s shares closed more than 1% lower after CEO Chris Kempczinski provided a cautious outlook for 2023. The CEO said he expects a “mild to moderate” recession in the US and a “deeper and longer” decline in Europe, dampening investor enthusiasm. The bank removed the following companies from the focus list: AtriCure, Boston Scientific and Regions Financial. —CNBC’s Michael Bloom contributed to this story.