Successful vaccine development and rollout will boost industry goodwill and reduce ESG risk, but we’re keeping our valuations steady.
We think the effects are likely to be minimal for the companies we cover.
We think not, and the market's misperception results in an attractive share price for NiSource.
We think the insurers could be most influenced by potential reforms.
The impact of the pandemic on electronic payment providers has been far from even.
With consumers flocking online during COVID-19, demand for digital ads should be strong in 2021 and beyond.
Small tickets and low-income customers are safeguards.
But the disruption caused by COVID-19 has little effect on the device industry’s moats.
Robots are becoming more central to the orthopedic field, but widespread adoption still faces considerable hurdles.
We don't foresee any impact on pharma companies' moats or valuations.
Utilities should benefit as the U.S. economy electrifies.
Stabilizing pricing and improved efficiencies should lead to steady gains and needed debt repayments for the generic drugmakers.
Here's a playbook for exploration and production companies to restore investor confidence.
But plenty of upside remains.
Neither the U.S. election outcome nor the coronavirus third wave will derail it.
Macroeconomic impact will likely be muted, and the boost in taxes and spending won't be unprecedented.
In the event of a Biden win, aftertax earnings could take a hit from higher corporate taxes.
Weaning America off fossil fuels will take decades, even if Democrats sweep Congress in November.
Companies with U.S. exposure are better positioned to benefit from easing prohibition.
Clean energy plans could be long-term growth opportunities.
Although the pandemic has proved the viability of remote work, we think offices are here to stay.
We don't think the market appreciates Caesars' and MGM's leading presence in domestic athletic gambling.
While we believe that most publicly traded restaurant companies will survive COVID-related disruptions, we still believe that the worst may be yet come for the broader industry.
Despite a difficult market, their advantages are intact.
We're still ambivalent about recent M&A, though.
Our moat ratings and undervalued view of the MCO and drug/biotech sectors are intact.
The market does not appreciate their near-term resiliency nor the long-term cash flow potential.
Their formidable defenses against downturns and short-term pullbacks in miles driven are intact.
We think the best of times for U.S. tower spending has already occurred.
We expect multiple approved vaccines by early 2021 with wide vaccine distribution in developed markets by mid-2021.
Resurgences in outbreaks make it clear that ending the pandemic will require more than diagnostic testing, contact tracing, and social distancing.
Our research analysts suspect that we've safely averted much of what would result in a long-term financial crisis during the COVID-19 economic downturn.
We think investors' fears about liability issues are overblown.
We've reduced our outlook, but attractive values remain.
Cloud-based protection trends are accelerating, and moaty companies are positioned to reward investors.
Risks are far lower than during the last U.S. financial crisis, despite COVID-19's impact.
While the president had been attacking TikTok, the addition of WeChat and Tencent to the ban was a surprise.
Demand has been hindered but not permanently impaired by COVID-19.
In a post-pandemic world, most utilities’ dividends offer investors an attractive income alternative.
Moats and returns on invested capital look stable for companies with a solid list of pipeline drugs.
Mall closures shifted sales online in the second quarter, but we expect shoppers and positive cash flow will quickly return.
The damage won't be fixed overnight, but we don't believe it's structural.
We share the cautious optimism of America's homebuilders.
Reforms are likely to be moderate, and we don’t expect significant changes in 2020.
Three new vaccines for coronavirus look poised for emergency use authorization in the U.S. this fall.
Cord cutting is still an issue, but a subscriber death spiral remains unlikely.
The pandemic has pushed businesses to more rapidly start and complete their digital transformation.
We project a much quicker (and more complete) recovery than the one after the Great Recession.
Fiscal stimulus is already substantially boosting economic activity.
COVID-19 has taken a toll on containerboard producers, but we see opportunity.