Look for:

Our offer for

Research Detail

2022/07/19 / Erste Group Research

Healthcare and technology stocks attractive


Rating Changes: Daikin Industries, Oracle, Tokyo Electron, ConocoPhillips

The global equity market has risen by +3.9% in EUR terms since the beginning of July. Fundamentally, sales are expected to increase by +7.9% and earnings by +7.6% in 2022. Next year, sales are expected to stagnate and profits to increase slightly (+2.9%).

However, we expect the recent weaker leading indicators (including purchasing managers' indices in the USA/Europe) to lead to a decline in consensus earnings forecasts for 2022e and 2023e. In 3Q, we expect a sideways movement of the global equity market index, with stocks in the US and emerging markets expected to perform relatively better than European ones. We particularly recommend stocks from the defensive consumer, healthcare and technology sectors, as these sectors currently have the most attractive risk/reward profile.


PDF Download Download PDF (5.7MB)

General information

AuthorErste Group Research
Date2022/07/19
Languageen
Product nameRecommendation List
Topic in focusEquities
Economy in focusEurozone, United States
Currency in focusEuro, 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
Download

Related financial instruments

Page 1 of 6
Name  ISIN# Erste Group products
-CH00246088270
-US27886510060
-CH00301704080
-DE000ENAG9990
-US51843910440
-GB00BH4HKS390
-US36960410330
-CH04187929220
-GB00BZ09BD160
-NL00150001Q90
-US70450Y10380
-US88579Y10100
-IE00BZ12WP820
-PTEDP0AM00090
-US05675210850
ABBCH00122217160
Abbott LaboratoriesUS00282410000
AbbVieUS00287Y10910
AdidasDE000A1EWWW04
AdobeUS00724F10120
Advanced Micro DevicesUS00790310780
AlibabaUS01609W10270
AllianzDE00084040050
AlphabetUS02079K30590
Amadeus IT GroupES01090670190



Decline
Accept

We use cookies and web analysis software to give you the best possible experience on our website. If you consent, these tools will be used. Please read more information here

INFORMATION FOR PRIVATE CLIENTS / CONSUMERS

Any information, material and services regarding financial instruments and securities provided by Česká spořitelna/Erste Group/ or any of its affiliates (collectively “Erste Group“) on this and any linked website hereafter (jointly the “Websites“) shall be exclusively to investors who are not subject to any legal sale or purchase restrictions.

By agreeing to this hereto, the visitor entering this Websites confirms that has read, understood and accepted this Information and the Disclaimer