Pandemic-Focused Buyers Shaped Consumer Defensive's Quarter
Here are two stocks that catch our eye.
|Editor’s note: Read the latest on how the coronavirus is rattling the markets and what investors can do to navigate it.|
Eric Lash: Consumer defensive lagged the broader market’s impressive rebound this quarter, generating a nearly 12% return compared with the market’s more than 20% gain through June 23, but we think the space has become more heated. More specifically, the median stock in our coverage now trades at just a 1% discount to our fair value estimates, which is a sharp acceleration relative to the 14% discount the space boasted three months ago.
Erin Lash does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.