Despite record amounts of capital overhang and demonstrated interest for the asset class, valuations and heightened competition continue to constrain deal flow.
After two consecutive years of record consolidation, merger and acquisition activity slows amid political upheaval.
The ongoing migration to cloud computing is having ramifications for dozens of stocks across our coverage.
Coming off a record fundraising year, total VC invested remains strong despite completed transaction counts trending lower.
Current spreads suggest utilities could still produce attractive returns even if the Fed continues to raise rates.
Continued tension in Washington, along with the potential inability to pass tax reform, could make for a rocky rest of the year.
U.S. job creation could become more of a concern later on, but we still see some bargains across our global industrials coverage.
AT&T and Verizon still own industry economics, but T-Mobile is now dictating the rules.
OPEC output cut extensions don't appear to be enough to balance the oil market.
Although growth has been hard to come by, we think worries related to heightened competitive intensity are creating pockets of value.
The consumer cyclical sector looks fairly valued, as restaurants and travel-related stocks help offset the carnage in retail following Amazon's bid to acquire Whole Foods.
Tax reform may still happen even as banking deregulation in the U.S. faces more hurdles.
Bolstered by unsustainable, debt-fueled Chinese construction spending, much of the sector is overvalued.
Credit spreads remain tight as volatility declines to near-record lows.
While the Republican-led Congress continues the push to repeal the Affordable Care Act, we still see challenges in passing any new legislation.
It's getting harder to find undervalued stocks with so much optimism factored into stock prices.
The stock rally continued into 2017 as President Donald Trump took office, and the Fed hiked rates.
We think ACA repeal efforts are unlikely to lead to major legislative changes.
U.S. telecoms are working to diversify away from being pure wireless network providers.
Valuations in general are painting overly rosy scenarios, but we still see pockets of value in areas such as enterprise software and IT services.
GM, Johnson Controls, and Stericycle are our favorites.
Utilities stocks keep rewarding investors with attractive yields and growth, dispelling the long-held notion that rising interest rates will hurt sector returns.
Look to retail for opportunity within a fairly valued REIT sector.
The global financial sector is in the midst of financial advice moving toward a fiduciary-like standard and fees becoming more transparent.
Although growth remains sluggish, opportunities in consumer defensive stocks are still available for selective investors.
Rapid U.S. production growth is looming and puts the nascent oil price recovery at risk.
Many discretionary companies have benefited from positive sentiment following the U.S. presidential election, and some still have attractive margins of safety.
With shares propped up by unsustainable Chinese demand, basic materials stocks are trading at a whopping 44% premium to our estimate of intrinsic value.
Both the investment-grade and high-yield indexes are trading much tighter than their long-term historical averages.
Given general valuation levels, careful individual stock selection is more important now.
U.S. stocks ended 2016 on a high note as Trump’s election, a rate hike, and the OPEC production cut deal were eyed.
We don't see any major shifts in U.S. drug prices over the next several years, but we expect changes to the Affordable Care Act.
The utilities yield spread has turned much more bearish after bonds collapsed at the end of the year.
The force is with Salesforce, which is one of the most advantageously positioned companies in software.
To navigate the choppy waters ahead, keep it simple and focus on the fundamentals.
Sector fundamentals are unexciting and valuations are elevated, but a few names show promise.
Commodity price gains are likely to prove temporary as stimulus exacerbates China's underlying problems and sets the stage for lower long-term growth.
Improved near-term fundamentals come at a cost.
Investors' attentions are often focused on Fed actions, missing the larger picture.
Despite tepid near-term growth prospects amid an intensely competitive landscape, pockets of value remain.
Discretionary companies have benefited from decreased uncertainty post-election as consumer expectations are set with the new administration.
Global interest rates continued to climb as investors priced in expectations that the global economy is entering a reflationary environment.
Despite high hopes, we believe 1.9% GDP growth will prove closer to the mark in 2017.
Following the Trump victory, the market has incorporated expectations for stimulus, higher inflation, and higher interest rates.
Despite short-term headwinds, not many companies are trading at material discounts to our fair value estimates.
Overblown concerns over drug pricing in the U.S. are creating attractive valuations for the more innovative drug companies.
Our real estate outlook remains stable for now and operating fundamentals continue to be healthy, but risks are due to increase as markets get deeper into the cycle.
Utilities' dividend yields still look good, growth is on track, and balance sheets are strong, offering income investors hope that a potential sector collapse would be mild.
The tech sector looks overvalued overall, but investors can find some value in smartphone-related vendors and IT services leaders.
Cost-cutting remains a focus amid continued slowing growth, but the sector is overvalued on the whole.