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M Stanley: S&P 500 Correction Nearing End; Valuation of US 'Magnificent 7' Very Attractive
Recommend 13 Positive 16 Negative 14 |
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The equity strategy team of Morgan Stanley released a report saying that there is increasing evidence that the adjustment of the S&P 500 is nearing its ending stages. However, rising interest rates and geopolitical uncertainties continue to cloud the short-term outlook. The current PE ratios of the US 'Magnificent Seven' are similar to those of the consumer staples sector, but their earnings growth is more than three times that of the latter, Morgan Stanley added. After six months of consolidation, the current valuations appear very attractive. Morgan Stanley maintained a year-end target of 7,800 for the S&P 500, provided the economy successfully avoids a recession. AASTOCKS Financial News Website: www.aastocks.com |
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