Tubakatööstuse tõus
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Tere.
Kas keegi teab/viitsib selgitada millest on tingitud tubakatööstuse viimase aasta ülesminek? -
Briefing.com kommentaar 20.aprillist:
Tobacco stocks have taken a nosedive in the past few sessions as the surprise rate cut spurred aggressive rotation out of the sector. Nevertheless, the sector outperformed the broader market by a healthy margin since our last review. On top of the leader board, was Loews (LTR), which is more of an insurance company than a tobacco play. A couple strokes off the lead was the rest of the pack, lead by everyone's favorite defensive play, Philip Morris (MO) with RJ Reynolds (RJR) challenging for second. On average, the group has returned about 10% over the past three months and has outperformed the S&P 500 by 17%...not too shabby. With the surprise rate cut on Wednesday and more expected to come at the May 15 meeting, we expect that money will continue to rotate out of the defensive plays and that doesn't bode well for the tobacco stocks. Once again litigation concerns will pervade the sector, and rightly so. Despite a more business-friendly environment in Washington, the legal fees, massive settlements and adverse legal judgements are not going to go away. Relatively high valuations, litigation risk and the return of the Nasdaq are sufficient cause for us to downgrade the sector back to Slightly Underperform, or two stars.
Stocks: B.A.T Industries (BTI), Loews (LTR), Philip Morris (MO), RJR (RJR), UST Inc (UST).
