The Week Ahead: Earnings Season Kicks Off With Big Banks
We'll see reports from Citi, JP Morgan, Wells Fargo, and Bank of America. Plus, BlackRock, Netflix, and American Express.
Jeremy Glaser: Earnings season kicks off this week, and investors will be scrutinizing results for any signs of an economic slowdown.
The big banks will likely be the highlight with Citi, JP Morgan, Wells Fargo, and Bank of America on tap. Global banks have fallen over 10% of the last three months as moderating rate expectations have weighed. Our equity analyst team thinks that this has created some opportunities, with over half of our banking coverage is now trading in 4- or 5-star territory. This includes Citi, which analyst Eric Compton think is trading at a 27% discount to his fair value estimate.