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2023/12/07 / Erste Group Research

Global equities valued below historical average

Rating changes: Samsung Electronics, Johnson & Johnson

The global equity market index rose by +4.8% in EUR terms in November. Since the beginning of the year, the global equity index is up +12.9% in EUR terms. This year, corporate sales and profits will change only slightly year-on-year.

According to the consensus forecast, stronger growth is expected again in 2024. Turnover should then increase by +4.8% (y/y). The profit growth forecast for 2024 is +9.1% (y/y). The expected P/E ratio for 2024 is 15.8x and the global dividend yield is 2.3%. The valuation based on the P/E ratio is below the long-term average. 2023 guidance raised significantly, strong global demand from AI integration services

Intuit: sales growth and margin increase expected
Samsung Electronics: Cyclical upswing expected in the memory chip sector. Sales and profits should improve significantly in 2024

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General information

AuthorErste Group Research
Product nameRecommendation List
Topic in focusEquities
Economy in focusEurozone, Germany, United States
Currency in focusEuro, US Dollar
Sector in focusAutomobiles & 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

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