Consumer Defensive: Looking to M&A, Online Sales for Growth
We see a few values for long-term investors amid intense competition.
After multiple quarters of slightly inflated valuations, the consumer defensive sector retreated modestly and now trades at a roughly 2% discount to our fair value estimates. As such, we now see a few more opportunities for patient investors to build positions in some competitively advantaged names.
John Brick, CFA does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.