Research Detail
| 2024/02/22 / Erste Group Research |
2024 Profit growth of +7% expected, AI demand significant driver Rating changes: Abbott Laboratories, Procter & Gamble, Alimentation CoucheTard, Cisco, Adobe The companies in the global equity market index will increase their sales by +4.3% (Y/Y) and profits by +7.1% this year. The expected P/E ratio 2024e for the global equity market is 18.1x. It has risen significantly in recent months due to the positive index performance and currently corresponds exactly to the long-term historical average. The expected dividend yield in 2024e is 2.1%. Earnings estimates for 2024 have been revised significantly downwards for the global equity market since the start of the year. Earnings expectations have recently weakened for almost all sectors. Only in the financials and commodities sectors have consensus earnings estimates improved slightly. We expect the global equity market index to achieve lower gains in the medium term than in recent months. NVIDIA: 4Q sales well above guidance at USD 22 billion, quarterly profit of USD 12.2 billion after USD 1.4 billion in the previous year, strong outlook for 2024 Schneider Electric: 2023 strong growth in North America, EBITA margin significantly improved, solid guidance for 2024 Abbott Laboratories: Numerous new products support sales and profit growth |
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General information
| Author | Erste Group Research |
| Date | 2024/02/22 |
| Language |  |
| Product name | Recommendation List |
| Topic in focus | Equities |
| Economy in focus | Eurozone, Germany, Japan, Switzerland, United Kingdom, United States |
| Currency in focus | British Pound, Euro, Swiss Franc, 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 |
| 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 |
| 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 |
| Netflix | US64110L1061 | 0 |
| NextEra Energy | US65339F1012 | 0 |
| Nike | US6541061031 | 0 |