Research Detail
| 2022/03/10 / Erste Group Research |
Strong demand for energy and commodities The war between Russia and Ukraine continues unabated. Europe, the USA and numerous other countries have therefore extended their sanctions against Russia. As a result, strong global demand for energy is being met by a tightening supply. Sharply rising prices of energy, raw materials and supply chain problems are fueling high inflation. No rapid change in this situation is in sight. The outlook for sales and profit growth of global companies remains positive. This year, sales should increase by +5.8% (y/y) and profits by +7.1% (y/y). Valuation by P/E ratio has declined due to share price declines and earnings growth. The 2022e P/E ratio is currently 15.0x. However, the favorable valuation also reflects the globally increased economic risks. Rating changes: ConocoPhillips, Rio Tinto, Mercedes-Benz Group Coverage discontinued: Gazprom, Sberbank |
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General information
| Author | Erste Group Research |
| Date | 2022/03/10 |
| 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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Related financial instruments
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| Name | ISIN | # Erste Group products |
| Johnson & Johnson | US4781601046 | 0 |
| JPMorgan | US46625H1005 | 0 |
| Kering | FR0000121485 | 0 |
| LOreal | FR0000120321 | 0 |
| LVMH | FR0000121014 | 0 |
| Mastercard | US57636Q1040 | 0 |
| McDonalds | US5801351017 | 0 |
| Mercedes-Benz Group | DE0007100000 | 2 |
| Meta Platforms | US30303M1027 | 0 |
| Microsoft | US5949181045 | 0 |
| Mondelez | US6092071058 | 0 |
| Nestle | CH0038863350 | 0 |
| Nike | US6541061031 | 0 |
| Novartis | CH0012005267 | 0 |
| PepsiCo | US7134481081 | 0 |
| Pfizer | US7170811035 | 0 |
| Procter & Gamble | US7427181091 | 0 |
| Rio Tinto | GB0007188757 | 0 |
| Roche Holding | CH0012032113 | 0 |
| RWE | DE0007037129 | 3 |
| Samsung Electronics | KR7005930003 | 0 |
| Sanofi | FR0000120578 | 0 |
| SAP | DE0007164600 | 4 |
| Shell | GB00B03MLX29 | 0 |
| Siemens | DE0007236101 | 0 |