Resumo do Relatório
The largest reratings and deratings: Eye on the World DAILY 28/07/20
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Markets rebounded yesterday led by tech, with Republicans announcing US stimulus proposal and ahead of key earnings and Fed meeting.
HOT TOPICS examines US re-rating leaders and laggards, with valuations up 20% YTD as EPS expectations slashed. Discretionary/energy most rerated vs falling EPS, led by Amazon/Chevron, and we are neutral both sectors. By contrast utilities is only de-rated sector, with shares down more than EPS, whilst real estate and health care biotech names lead those most lagging earnings. We are overweight all three sectors.
16-page daily includes: Market recap and What to watch; Hot Topic analysis; Country and Sector allocation eye; Key views; US and global performance, valuation, earnings, and macro forecasts; and report Library
