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Quarter-End Insights

Consumer Defensive Sector Looks Fully Valued

Alcohol and tobacco stocks are trading at the greatest discounts to our fair value estimates.

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The consumer defensive sector outperformed the broader market in the third quarter, returning 7.6% compared with the market’s 5.1% gain through Sept. 23.

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Erin Lash does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.