Consumer Defensive: Some Industries Are Showing Resistance to E-Commerce Threat
Tobacco and alcohol firms are trading below our fair value estimates.
The consumer defensive sector has lagged market performance this quarter through Dec. 5, returning 3.8% compared with the market's returns of 9.0% (Exhibit 1).
The consumer defensive sector performance has cooled. - source: Morningstar
Erin Lash, CFA does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.