Nomura Securities on Brokers & Universal Banks: Capital Markets Monthly
Tweet
Share
E-mailGet Alerts C Hot Sheet
Price: $61.79 -1.09%
Rating Summary:
24 Buy, 13 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
24 Buy, 13 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Join SI Premium – FREE
Nomura Securities on Brokers & Universal Banks: Capital Markets Monthly
Analyst, Glenn Schorr, said, "Despite lackluster earnings results, a lift in asset prices (equities +4-5%, tighter credit spreads) and increased comfort around risks in Europe post the ECB’s LTRO fuelled a rebound in capital markets stocks in January, with the brokers (+20.8%), universal banks (+16.3%) and asset managers (+9.3%) all outperforming the broader market (trust banks lagged at +0.4%). Although this is a solid start to 2012, the core European issues remain, and we probably need to see some volume follow-through to push these stocks to the next level. Even after the recent rally, financials continue to trade at historically low multiples, with most of the brokers and universal banks at discounts to tangible book value. Among the brokers and universal banks we favor Citi (NYSE: C), JPMorgan (NYSE: JPM), and Goldman Sachs (NYSE: GS). Among the asset managers we like Invesco (NYSE: IVZ) and BlackRock (NYSE: BLK)."
Analyst, Glenn Schorr, said, "Despite lackluster earnings results, a lift in asset prices (equities +4-5%, tighter credit spreads) and increased comfort around risks in Europe post the ECB’s LTRO fuelled a rebound in capital markets stocks in January, with the brokers (+20.8%), universal banks (+16.3%) and asset managers (+9.3%) all outperforming the broader market (trust banks lagged at +0.4%). Although this is a solid start to 2012, the core European issues remain, and we probably need to see some volume follow-through to push these stocks to the next level. Even after the recent rally, financials continue to trade at historically low multiples, with most of the brokers and universal banks at discounts to tangible book value. Among the brokers and universal banks we favor Citi (NYSE: C), JPMorgan (NYSE: JPM), and Goldman Sachs (NYSE: GS). Among the asset managers we like Invesco (NYSE: IVZ) and BlackRock (NYSE: BLK)."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Gilead Sciences (GILD) Misses Q1 EPS by 288c
- Juniper Networks (JNPR) Misses Q1 EPS by 12c
- Alphabet (GOOGL) soars 16% on Q1 results beat, first-ever dividend
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
JPMorgan, Citi, Nomura, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
