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 |
| General Motors | US37045V1008 | 0 |
| Gilead Sciences | US3755581036 | 0 |
| GlaxoSmithKline | GB0009252882 | 0 |
| Home Depot | US4370761029 | 0 |
| HSBC | GB0005405286 | 0 |
| IBM | US4592001014 | 0 |
| ICICI Bank | US45104G1040 | 0 |
| Inditex | ES0148396007 | 0 |
| Infineon | DE0006231004 | 3 |
| Infosys | INE009A01021 | 0 |
| Intel | US4581401001 | 0 |
| Intuit | US4612021034 | 0 |
| Intuitive Surgical | US46120E6023 | 0 |
| Johnson & Johnson | US4781601046 | 0 |
| JPMorgan | US46625H1005 | 0 |
| Kering | FR0000121485 | 0 |
| Kone | FI0009013403 | 0 |
| Linde | IE000S9YS762 | 0 |
| LOreal | FR0000120321 | 0 |
| LVMH | FR0000121014 | 0 |
| Mastercard | US57636Q1040 | 0 |
| McDonalds | US5801351017 | 0 |
| Mercedes-Benz Group | DE0007100000 | 2 |
| Merck & Co | US58933Y1055 | 0 |
| Meta Platforms | US30303M1027 | 0 |