Research Detail
| 2023/12/21 / Erste Group Research |
2024: Profit growth of +9% y/y expected Rating Changes: Holcim, Waste Management, ExxonMobil, Oracle The performance of the US stock market this year was determined by the exceptionally high performance of the "Magnificent 7" stocks. These are the shares of: Apple, Microsoft, Alphabet, Amazon.com, NVIDIA, Tesla Motors and Meta. The performance of these stocks weighted by market capitalization has been +68% since the beginning of the year. The US stock market (S&P 500) rose by +21% overall this year. The prospects that US technology stocks will continue to rise next year are positive. The sector's expected sales growth for 2024 is +10.5% (y/y) and the forecast earnings growth is +16.1% (y/y). For the global market as a whole, the expectation for earnings growth in 2024 is now +9% y/y in USD. Sales should increase by +5% y/y. In terms of valuation, the global equity index with an expected P/E ratio of 17.8x for 2024e is below the historical average of 19.4x over the last 20 years. Holcim: Organic growth, EBIT rises sharply Waste Management: Sales and margin increase expected in 2024 |
 Download PDF (5.8MB)
|
General information
| Author | Erste Group Research |
| Date | 2023/12/21 |
| Language |  |
| Product name | Recommendation List |
| Topic in focus | Equities |
| Economy in focus | Eurozone, 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 |
| Download |