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2023/08/17 / Erste Group Research

Growth not expected to accelerate until 2024

Rating changes: Siemens, Mercedes-Benz Group, Johnson & Johnson, Toyota Motor, Amgen, Daikin Industries

Sales growth of only +0.7% (y/y) and moderate earnings growth of +3.4% (y/y) are expected for the companies in the global equity index in 2023. Only for the coming year do the consensus estimates assume higher growth rates. Accordingly, in 2024 sales should increase by +4.3% (y/y) and profits by +9.4% (y/y).

Toyota Motor: Sales growth in all sales regions

Amgen: Operating margin increases, outlook adjusted upward

Johnson & Johnson: 2Q23: Earnings up again on improved margins, guidance raised by strong medical technology outlook

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General information

AuthorErste Group Research
Product nameRecommendation List
Topic in focusEquities
Economy in focusEurozone, Germany, Japan, Switzerland, United Kingdom, United States
Currency in focusBritish Pound, Euro, Swiss Franc, 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