The market is warm to the idea, but we don't see a meaningful long-term impact for companies in this space.
Firms may face headwinds in U.S. sales, but our fair value estimates haven't budged.
We focus on quality companies in an environment where investors are engaging in rank speculation.
Institutions and students bear the brunt, but opportunities are considerable.
Capital returns are coming back, but don't forget about valuations.
The market’s optimistic valuation for Airbnb is tough to accommodate.
But investors can still find value in U.S. cannabis stocks.
Innovations in spinal cord stimulation bolster moats at Medtronic, Boston Scientific, and Abbott.
Robust e-commerce sales by traditional retailers during the COVID-19 pandemic create a lasting role for physical stores.
Supply-side pressures are behind our increase for this year.
We expect a mid-single-digit impact to average U.S. equity valuations.
We think the cloud holds substantial--and underestimated--opportunity for some of these companies.
The semiconductor space is a constant battle against commoditization.
The global COVID-19 vaccine market is currently dominated by mRNA firms, but competitors are gaining strength.
Limited vaccine supply in other countries could make global immunity tougher to achieve, though.
Here's how regulation can dictate their growth and valuation.
But more-affordable homes will be needed to realize millennials' ownership potential.
We've increased our U.S. GDP growth forecast.
We think the market misunderstands the ramifications of e-commerce.
A look at the automakers and suppliers that are best positioned to benefit from the industry's recovery.
Competition presents headwinds to players in the travel market, however.
It's been left behind in the runup in energy prices, and here's why.
But more dots move toward a rate hike--or hikes--in 2022 or 2023.
We think Marriott and Hilton are the best positioned.
Productive capacity, not stimulus, is what drives the economy’s long-term potential GDP.
Despite stubbornly high unemployment, we have reason to believe fiscal stimulus has helped household finances hold up across all income levels.
Lockdowns and next-generation consoles are supercharging growth.
The U.S. economic recovery paused at the end of 2020, but it will soon be ready for liftoff.
We see the best values in high-quality gas utilities.
If liquid biopsy lives up to its potential, a paradigm shift in cancer detection is possible.
High yields indicate opportunity as the probability of cuts is low.
We see strong growth and reduced cyclicality for the industry.
The sector's expensive overall, and some valuations are downright alarming.
However, the biopharma industry's ability to adapt and innovate to treat disease reinforces our moat ratings.
We expect quickly declining sales potential after that, however.
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.