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.
Valuation, growth capital expenditure, and renewable energy are top of mind.
Losses look manageable, and this could be a good time to buy.
Shares have rallied, but valuations are still compelling as the near term remains uncertain.
We're maintaining our call on the U.S. banks and will know a lot more by the second quarter.
We find several undervalued stocks and one compelling bargain.
We've updated our near-term GDP forecast and look to previous recessions for longer-term guidance.
Diagnostic testing, treatment, and a coronavirus vaccine could allow near-normal distancing and nonessential business recovery by mid-2021.
Our coronavirus infection and fatality assumptions have edged down as we settle closer to control.
Chains' recovery will eventually come; in the meantime, check out the full-price sale.
But excessive actions are unlikely to significantly harm Alphabet or Facebook.
But recovery is inevitable, and stocks look very cheap--just watch out for bankruptcy risk.
Usually bland first-quarter earnings reports should offer many insights for 2020 and beyond.
Getting past near-term growing pains and uncertainty, we see significant risk-adjusted upside.
Operational results will worsen, but most companies should muddle through.
Sales will be horrendous in the near term, but there’s value to be found.
After an in-depth reassessment, we still believe they're undervalued.
The pandemic will cause an unprecedented revenue decline, but long-term recovery makes this sector attractive at current prices.
Moats, valuations, and dividends look attractive in the market pullback.
Sharp sell-off leaves valuations attractive.
Our outlook on how the U.S. will cope during and after the shutdown.
Long-term leases should mitigate the short-term impact.
Volatility isn't always bad, and banks are better off now than they were in the financial crisis.
We don't predict any long-lasting changes to companies' supply-chain structures.
While the COVID-19 shock is severe in the near term, we think it will be temporary.
Can e-commerce offset lower foot traffic?
The markets' chills offer a chance to stock up on quality companies.
It's likely to be a tough few years, but dividends should remain intact, meaning opportunity exists.
The discounts we see now are several and sometimes compelling.
Barring an extended and severe global coronavirus outbreak, we see the shares of Wynn, MGM, and Las Vegas Sands offering attractive long-term value.
The hit to 2020 should be significant, but we see minimal long-term economic impact, and the treatment pipeline is progressing.
The near-term outlook for energy companies is bleak and likely to affect our valuations.
Our analysts discuss where they see value in their sectors today.
Our analysts discuss where they see value in their sectors today.
Our analysts discuss where they see value in their sectors today.
Despite the WeWork debacle, flex space gives office real estate a new lease on life.
Oilfield services stocks appear to be the most undervalued.
Our analysts offer their annual global auto overview, forecast, and actionable ideas.
All three lithium producers we cover are undervalued.
We think Marathon Petroleum and Valero are the most attractive.
We expect e-commerce, online entertainment, education, and business services to see faster adoption rates in the long term.
Nothing in this quarter's results compels us to revise our long-term views, but we did change some fair value estimates.
Jewelry won't fill the gap when today's investment demand becomes tomorrow's recycled supply.