S&P Equity Research Downgrades Consumer Staples to Marketweight
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S&P Equity Research downgrades recommended Consumer Staples weighting to Marketweight.
S&P analyst, A. Young, says, "S&P's Equity Strategy Group downgrades the S&P 500 Consumer Staples sector to marketweight from overweight. We believe a mild U.S. recession is largely discounted in current valuations, and investor risk aversion is gradually receding, in our view. As such, we think investors will gravitate away from defensive areas into more economically sensitive sectors. In addition, we believe record raw material prices will begin to crimp Consumer Staple margins as higher input costs become harder to pass along to consumers. Lastly, our technical opinion of the sector is deteriorating." (NOTE - S&P analyst highlighted Walgreen (NYSE: WAG))
Other Consumer Staples of Note - Kimberly-Clark Corp. (NYSE: KMB), Colgate-Palmolive Co. (NYSE: CL), Procter & Gamble Co. (NYSE: PG) and Alberto-Culver Co. (NYSE: ACV).
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