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GOLDMAN SACHS: These 13 cheap stocks are poised for years of better-than-expected profits a?? and they're must-haves as the coronavirus wipes out earnings in 2020

GOLDMAN SACHS: These 13 cheap stocks are poised for years of better-than-expected profits a?? and they're must-haves as the coronavirus wipes out earnings in 2020
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David Kostin — the chief US equity strategist at Goldman Sachs — says some of the largest S&P 500 companies are going to post better earnings over the next five years than their stock prices suggest.




As the global economy sinks into a deep recession, there's little hope of earnings growth this year, which might make the long-term bargains Kostin is identifying more valuable.




Goldman thinks S&P 500 profits will plunge 33% this year as a result of the coronavirus pandemic and the widespread economic shutdowns and other damages associated with it.




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Wall Street forecasts from early 2020 look like they could have come from another world.
As recently as mid-February, David Kostin — the chief US equity strategist for Goldman Sachs — thought S&P 500 companies would report 6% earnings-per-share growth in 2020. At that time, corporate America had just completed a better-than-expected earnings season.
That's ground much of the global economy to a halt. The world is trying to stop the coronavirus pandemic, and experts are trying to figure out how bad the job losses and sudden recession will get — as well as how companies will hold up. As a result, Kostin's firm now expects profits to plunge 33% this year.
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