Look for:

Our offer for

Research Detail

2023/06/29 / Erste Group Research

Positive Forecast for Equities in 3Q


Rating Changes: Edwards Lifesciences, Equinor, Broadcom, Novo Nordisk, TotalEnergies.

The global equity market index rose by +4.6% in EUR terms in the second quarter. The year-to-date performance in EUR is +10.3%. The US equity market outperformed the global index in 2Q with an increase of +6.7%. The European equity market showed significant relative weakness to the overall market with a performance in EUR of 0%.

The valuation of the global stock market index is slightly below the long-term average. The expected P/E ratio for 2023e is 16.9x and for 2024 15.5x. In the current low economic growth environment, we recommend stocks from sectors with above-average profitability and good growth prospects, such as industrials, technology and healthcare.

Edwards Lifesciences: Innovative medical technology for cardiovascular diseases

Equinor: Well above-average operating margin and return on equity - stock very favorably valued

PDF Download Download PDF (6.0MB)

General information

AuthorErste Group Research
Date2023/06/29
Languageen
Product nameRecommendation List
Topic in focusEquities
Economy in focusEurozone, Germany, Switzerland, United Kingdom, United States
Currency in focusBritish Pound, Euro, Swiss Franc, US Dollar
Sector in focusAutomobiles & Parts, Banks, Basic Resources, Chemicals, Construction & Material, Financial Services, Food & Beverage, Health Care, Industrial Goods & Services, Insurance, Media, Oil & Gas, Personal & Household Goods, Retail, Technology, Telecommunications, Travel & Leisure, Utilities
Download

Related financial instruments

Page 2 of 6
Name  ISIN# Erste Group products
BPGB00079805910
Bristol-Myers Squibb US11012210830
CaterpillarUS14912310150
Chevron US16676410050
China Construction BankCNE1000002H10
Cie Financiere RichemontCH02104833320
CiscoUS17275R10230
CitigroupUS17296742420
Coca-ColaUS19121610070
Colgate-PalmoliveUS19416210390
ColoplastDK00604485950
ConocoPhillipsUS20825C10450
Daikin Industries JP34818000050
DanoneFR00001206440
Deere & CoUS24419910540
Deutsche BankDE00051400083
Deutsche BoerseDE00058100550
Deutsche TelekomDE00055575080
DHL GroupDE00055520040
DiageoGB00023740060
Edwards LifesciencesUS28176E10820
Eli LillyUS53245710830
EquinorNO00100969850
Exxon MobilUS30231G10220
Fomento Eco. MexicanoUS34441910640



Decline
Accept

We use cookies and web analysis software to give you the best possible experience on our website. If you consent, these tools will be used. Please read more information here

INFORMATION FOR PRIVATE CLIENTS / CONSUMERS

Any information, material and services regarding financial instruments and securities provided by Česká spořitelna/Erste Group/ or any of its affiliates (collectively “Erste Group“) on this and any linked website hereafter (jointly the “Websites“) shall be exclusively to investors who are not subject to any legal sale or purchase restrictions.

By agreeing to this hereto, the visitor entering this Websites confirms that has read, understood and accepted this Information and the Disclaimer