Research Detail
| 2023/02/07 / Erste Group Research |
Positive 4Q22 earnings season Rating changes: Advanced Micro Devices, Exxon Mobil, Home Depot, Infineon, KBC Group, Salesforce.com, Starbucks, Bank of America , ConocoPhillips, Equinor, Johnson & Johnson, Novartis, Unilever, Waste Management The stock market took the Fed's recent comments as "dovish" despite the U.S. rate hike. Recent positive surprises from purchasing managers' indices (China & Eurozone) prompted investors to increase risk appetite. The consensus forecast for global corporate sales growth in 2023 is +2.5% (y/y). Profits should increase slightly this year (2023e: +1.5% y/y). We see upside potential in consensus forecasts for this year given the positive 4Q22 reporting season so far and the solid 2023 outlook from corporations. These revisions will have a positive impact on share prices, in our view. Salesforce.com: Revenue growth of approx. 17% p.a. expected until 2026 Home Depot: Solid growth and stable margins, US housing market with upside potential KBC Group: Very high profitability with ROE of 14% |
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General information
| Author | Erste Group Research |
| Date | 2023/02/07 |
| Language |  |
| Product name | Recommendation List |
| Topic in focus | Equities |
| Economy in focus | Eurozone, Germany, Japan, 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
Page 1 of 6
| Name | ISIN | # Erste Group products |
| - | NL00150001Q9 | 0 |
| - | IE00BZ12WP82 | 0 |
| - | US0567521085 | 0 |
| - | US5184391044 | 0 |
| - | US88579Y1010 | 0 |
| ABB | CH0012221716 | 0 |
| Abbott Laboratories | US0028241000 | 0 |
| AbbVie | US00287Y1091 | 0 |
| Adidas | DE000A1EWWW0 | 4 |
| Adobe | US00724F1012 | 0 |
| Advanced Micro Devices | US0079031078 | 0 |
| Alibaba | US01609W1027 | 0 |
| Allianz | DE0008404005 | 0 |
| Alphabet | US02079K3059 | 0 |
| Amadeus IT Group | ES0109067019 | 0 |
| Amazon.Com | US0231351067 | 0 |
| AmBev | BRABEVACNOR1 | 0 |
| Amgen | US0311621009 | 0 |
| Anheuser Busch Inbev | BE0974293251 | 0 |
| Apple | US0378331005 | 0 |
| ASML | NL0010273215 | 0 |
| AT&T | US00206R1023 | 0 |
| Bank of America | US0605051046 | 0 |
| BASF | DE000BASF111 | 2 |
| Bayer | DE000BAY0017 | 0 |