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2022/07/19 / Erste Group Research

Healthcare and technology stocks attractive


Rating Changes: Daikin Industries, Oracle, Tokyo Electron, ConocoPhillips

The global equity market has risen by +3.9% in EUR terms since the beginning of July. Fundamentally, sales are expected to increase by +7.9% and earnings by +7.6% in 2022. Next year, sales are expected to stagnate and profits to increase slightly (+2.9%).

However, we expect the recent weaker leading indicators (including purchasing managers' indices in the USA/Europe) to lead to a decline in consensus earnings forecasts for 2022e and 2023e. In 3Q, we expect a sideways movement of the global equity market index, with stocks in the US and emerging markets expected to perform relatively better than European ones. We particularly recommend stocks from the defensive consumer, healthcare and technology sectors, as these sectors currently have the most attractive risk/reward profile.


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General information

AuthorErste Group Research
Date2022/07/19
Languageen
Product nameRecommendation List
Topic in focusEquities
Economy in focusEurozone, United States
Currency in focusEuro, US Dollar
Sector in focusAutomobiles & 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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