|2023/03/28 / Erste Group Research|
Pharma Stocks with Good Prospects
Rating Changes: Adobe, NextEra Energy, Regeneron Pharma, Nutrien, Walmart
Earnings estimates for the US equity market are positive for 2023. Although earnings are still expected to decline in 1Q and 2Q: 1Q 23e: -6% (y/y), 2 Q23e: -3% (y/y), there is an increase in earnings for the full year, according to the consensus forecast. Accordingly, the median expected 2023 profit growth is +9% (y/y).
The reporting season for 4Q results is over. The new reporting season does not start until April14 with US bank results. Equity investors will now increasingly turn their attention back to economic risks.
Regeneron Pharma: Successful phase III study in COPD drug
Beiersdorf: 2022 Organic sales growth of +10.2% y/y, Consumer margin improvement of 50BP in 2023e
BMW: Sales growth of +28% y/y, EBIT margin target 2023 reaffirmed
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|Author||Erste Group Research|
|Product name||Recommendation List|
|Topic in focus||Equities|
|Economy in focus||Eurozone, Germany, Switzerland, United Kingdom, United States|
|Currency in focus||British Pound, Euro, Swiss Franc, US Dollar|
|Sector in focus||Automobiles & Parts, Banks, Basic Resources, Chemicals, Construction & Material, Financial Services, Food & Beverage, Health Care, Industrial Goods & Services, Insurance, Media, Oil & Gas, Personal & Household Goods, Retail, Technology, Telecommunications, Travel & Leisure, Utilities|
|Name||ISIN||# Erste Group products|
|Advanced Micro Devices||US0079031078||1|
|Amadeus IT Group||ES0109067019||0|
|Anheuser Busch Inbev||BE0974293251||0|
|Bank of America||US0605051046||0|
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