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Morningstars Markedsudsigt Q3 2019: Energiaktier er fortsat attraktive

Vores fundamentalt baserede analyser indikerer, at aktier inden for energi og cyklisk forbrug tilbyder mest værdi for pengene.

Morningstar Analysts 16/07/2019

Af Daniel Rohr, CFA, Director of Equity Research, North America.

Amerikansk- og Canadisk-domicilerede aktier, som udgør omkring halvdelen af vores globale aktiedækning på mere end 1.500 selskaber, ser en smule mindre attraktiv ud, efter Morningstars U.S. Market Index steg 3 procent i andet kvartal frem til 25. juni. Den gennemsnitlige nordamerikanske aktie handles 4 procent under vores estimat af fair værdi mod en rabat på 5 procent nær slutningen på årets første kvartal. Samtidig overstiger andelen af 4- og 5-stjernede aktier marginalt andelen med 1 og 2 stjerner – 30 procent mod 25 procent. Det globale billede er det samme, hvor den gennemsnitlige aktie handles til en rabat på 4 procent og andelen af ”køb” overstiger andelen af ”sælg” med 32 procent mod 26 procent.

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