Research Detail
| 2023/12/07 / Erste Group Research |
Global equities valued below historical average Rating changes: Samsung Electronics, Johnson & Johnson The global equity market index rose by +4.8% in EUR terms in November. Since the beginning of the year, the global equity index is up +12.9% in EUR terms. This year, corporate sales and profits will change only slightly year-on-year. According to the consensus forecast, stronger growth is expected again in 2024. Turnover should then increase by +4.8% (y/y). The profit growth forecast for 2024 is +9.1% (y/y). The expected P/E ratio for 2024 is 15.8x and the global dividend yield is 2.3%. The valuation based on the P/E ratio is below the long-term average. Salesforce.com: 2023 guidance raised significantly, strong global demand from AI integration services Intuit: sales growth and margin increase expected Samsung Electronics: Cyclical upswing expected in the memory chip sector. Sales and profits should improve significantly in 2024 |
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General information
| Author | Erste Group Research |
| Date | 2023/12/07 |
| Language |  |
| Product name | Recommendation List |
| Topic in focus | Equities |
| Economy in focus | Eurozone, Germany, United States |
| Currency in focus | Euro, 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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| Name | ISIN | # Erste Group products |
| 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 |
| 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 |
| Microsoft | US5949181045 | 0 |
| Mondelez | US6092071058 | 0 |
| Morgan Stanley | US6174464486 | 0 |
| Nestle | CH0038863350 | 0 |