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 |
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General information
| Author | Erste Group Research |
| Date | 2023/06/29 |
| Language |  |
| Product name | Recommendation List |
| Topic in focus | Equities |
| Economy in focus | Eurozone, Germany, Switzerland, United Kingdom, United States |
| Currency in focus | British Pound, Euro, Swiss Franc, US Dollar |
| Sector in focus | Automobiles & 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 |
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Related financial instruments
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| Name | ISIN | # Erste Group products |
| BP | GB0007980591 | 0 |
| Bristol-Myers Squibb | US1101221083 | 0 |
| Caterpillar | US1491231015 | 0 |
| Chevron | US1667641005 | 0 |
| China Construction Bank | CNE1000002H1 | 0 |
| Cie Financiere Richemont | CH0210483332 | 0 |
| Cisco | US17275R1023 | 0 |
| Citigroup | US1729674242 | 0 |
| Coca-Cola | US1912161007 | 0 |
| Colgate-Palmolive | US1941621039 | 0 |
| Coloplast | DK0060448595 | 0 |
| ConocoPhillips | US20825C1045 | 0 |
| Daikin Industries | JP3481800005 | 0 |
| Danone | FR0000120644 | 0 |
| Deere & Co | US2441991054 | 0 |
| Deutsche Bank | DE0005140008 | 4 |
| Deutsche Boerse | DE0005810055 | 0 |
| Deutsche Telekom | DE0005557508 | 0 |
| DHL Group | DE0005552004 | 0 |
| Diageo | GB0002374006 | 0 |
| Edwards Lifesciences | US28176E1082 | 0 |
| Eli Lilly | US5324571083 | 0 |
| Equinor | NO0010096985 | 0 |
| Exxon Mobil | US30231G1022 | 0 |
| Fomento Eco. Mexicano | US3444191064 | 0 |