One of Wall Street's top equity analysts reveals his 4 favorite areas in the market

President Donald Trump took to Twitter on Thursday morning to cheer on the record-setting stock market rally. And while markets as a whole have been rallying since his inauguration, there is still a lot of uncertainty out there.

So where should an investor look for value? Business Insider asked Dubravko Lakos-Bujas, JPMorgan's head of US equity strategy where in the market investors should put their money.

"Within equities, we have been early on the reflation trade," Lakos-Bujas said in an interview with Business Insider.

The team went overweight energy in December 2015, overweight materials in January 2016, and entered financials in late 2015. "Those are our three higher conviction sector overweights that I do think have more room to run, especially financials," he said.

The fourth one he would add to that bucket is healthcare.

"I like healthcare. I do see healthcare as a sector that will likely continue to print superior growth," he said. "Valuations have come down quite a lot. Valuation wise it's attractive. Headline risk isn't going to go away necessarily given the new administration, but I think a lot of the negativity around headline risk is already priced in."

Although Lakos-Bujas didn't mention any names specifically, recent performance supports his picks.

Financials have been rallying, with Goldman Sachs up 65.3% year-over-year. President Trump's pro-business agenda and recent efforts at deregulation suggest there may be further room to go.

In energy, OPEC production cuts have improved the sector's backdrop. For example, oilfield services giant Halliburton is up 73% year-over-year.

And the S&P 500 materials sector has gained more than 10% since the election on the back of Trump's proposed $1 trillion infrastructure spending plan. If approved by Congress, it will be the largest infrastructure package in a decade.

When it comes to healthcare, there's still a lot of uncertainty around how the repeal and replacement of Obamacare will play out and how Trump plans to negotiate drug prices. Hospital owner HCA was hit hard following Trump's election, tumbling 14%, but has made up those losses and then some. Additionally, a similar story has played out in pharmaceutical giant Merck, which tumbled 9% after the election but is now back above its pre-election levels.

See also: JPMorgan's head of US equities on the dollar, market volatility, and where investors should put their money in 2017

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