Barclays on Airlines & Transportation: Another Back to School Rally in Store?
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Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Rating Summary:
9 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
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Barclays on Airlines & Transportation: Another Back to School Rally in Store?
Barclays analyst says, "We envision another back to school rally across our universe again this year. At current levels, we believe the shares already discount earnings declines consistent with a more typical recession. But the data points in the interim are holding up much better than the stocks would suggest. We call that a good risk reward and one that applies broadly across our sectors. In particular, we like United (NYSE: UAL), FedEx (NYSE: FDX) and Norfolk Southern (NYSE: NSC) in declining order of risk appetite and upside potential.
"At current levels, moderate recession appears priced in: Stocks have clearly
responded to a variety of risks. Since July, airlines are down (21%), integrators (FDX & UPS (NYSE: UPS)) are down (15%) and rails down (11%), while the S&P 500 is down (10%). We believe most of our stocks already discount earnings reductions consistent with a more typical recession."
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Barclays analyst says, "We envision another back to school rally across our universe again this year. At current levels, we believe the shares already discount earnings declines consistent with a more typical recession. But the data points in the interim are holding up much better than the stocks would suggest. We call that a good risk reward and one that applies broadly across our sectors. In particular, we like United (NYSE: UAL), FedEx (NYSE: FDX) and Norfolk Southern (NYSE: NSC) in declining order of risk appetite and upside potential.
"At current levels, moderate recession appears priced in: Stocks have clearly
responded to a variety of risks. Since July, airlines are down (21%), integrators (FDX & UPS (NYSE: UPS)) are down (15%) and rails down (11%), while the S&P 500 is down (10%). We believe most of our stocks already discount earnings reductions consistent with a more typical recession."
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