Research Detail
| 2023/06/06 / Erste Group Research |
Attractive industrial stocks Rating changes: Alfa Laval, Fomento Economico Mexicano, Nike, Anheuser Busch Inbev, Procter & Gamble, Starbucks. The global equity market index rose by +2.3% in EUR terms in May. The consensus forecast for global corporate sales growth in 2023 is currently +1.7% (y/y). Profits should rise +3.7% (y/y) this year. Sales and profits will not rise more strongly again until next year. Sales growth of +4.0% (y/y) and profit growth of +9.2% (y/y) are forecast for 2024. The expected global dividend yield in 2023e is 2.2%. We expect the global equity market index to rise moderately in June. In China, the situation in the manufacturing sector improved in May for the first time in three months. The latest PMI indicator rose to the level of 50.9 points in May, but was slightly below market expectations. In India, the manufacturing PMI reached a 31-month high of 58.7 points in May. In general, earnings growth of +3.9% (y/y) is forecast for emerging market companies this year. Earnings growth should accelerate to +11.1% (y/y) next year according to the consensus forecast. |
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General information
| Author | Erste Group Research |
| Date | 2023/06/06 |
| Language |  |
| Product name | Recommendation List |
| Topic in focus | Equities |
| Economy in focus | Germany, 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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