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Quarter-End Insights

Consumer Defensive: Only a Handful of Values Left

Strong brands and cost advantages are key in the current global consumer spending environment.

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  • The consumer defensive sector still trades above our fair value estimate, and we see only a handful of undervalued industries and companies.
  • Premium alcoholic beverage manufacturers should enjoy further volume gains as emerging-markets consumers trade up into higher-priced drinks, driving additional cost savings.
  •  Procter & Gamble (PG) continued to make strides to enhance its market position in the quarter, and we contend that it's worth keeping an eye on in a sector where discounts are few and far between.

 

Adam Fleck does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.