Research Detail
| 2024/10/29 / Erste Group Research |
Good prospects for sales and earnings growth at US companies Recommendation changes: Hoya, Novo Nordisk Global equities: Stronger earnings growth expected 2025e: +10.5% (y/y) vs. 2024e: +5.5% (y/y) Earnings growth of +3.6% (y/y) is expected for the US equity market in Q3. The highest percentage earnings growth is forecast for the real estate (+35% y/y), technology (+24.7% y/y), financials (+18% y/y) and utilities (+15% y/y) sectors. The trend in earnings forecasts for European companies for Q3 is downwards. Two months ago, profit growth of around +7.5% (y/y) was forecast. The profit growth expected for the 3Q is now only +3% (y/y). Sales are expected to fall by -2.6% (y/y). The relative weakness of the European equity market compared to the global equity index will therefore continue. |
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General information
| Author | Erste Group Research |
| Date | 2024/10/29 |
| Language |  |
| Product name | Recommendation List |
| Topic in focus | Equities |
| Economy in focus | Eurozone, 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
Page 2 of 5
| Name | ISIN | # Erste Group products |
| Banco Santander | ES0113900J37 | 0 |
| Bank of America | US0605051046 | 0 |
| BASF | DE000BASF111 | 2 |
| Beiersdorf | DE0005200000 | 0 |
| BHP Group | GB00BH0P3Z91 | 0 |
| BMW | DE0005190003 | 5 |
| BNP Paribas | FR0000131104 | 0 |
| Booking Holdings | US09857L1089 | 0 |
| BP | GB0007980591 | 0 |
| Bristol-Myers Squibb | US1101221083 | 0 |
| Caterpillar | US1491231015 | 0 |
| Chevron | US1667641005 | 0 |
| China Construction Bank | CNE1000002H1 | 0 |
| Cie Financiere Richemont | CH0210483332 | 0 |
| Cisco | US17275R1023 | 0 |
| Citigroup | US1729674242 | 0 |
| Coca-Cola | US1912161007 | 0 |
| Danone | FR0000120644 | 0 |
| Deere & Co | US2441991054 | 0 |
| Deutsche Bank | DE0005140008 | 4 |
| Deutsche Boerse | DE0005810055 | 0 |
| Deutsche Telekom | DE0005557508 | 0 |
| DHL Group | DE0005552004 | 0 |
| Diageo | GB0002374006 | 0 |
| Eli Lilly | US5324571083 | 0 |