Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
) as a tactical trade idea – as a short,
“We see numerous earnings challenges for Ford in 2023,” he said. “Therefore, we include Ford on our Tactical Ideas list for Q1-23. Most importantly, we see pricing pressure driven by higher interest rates, falling used vehicle prices & mix normalization. We already see evidence that pricing headwinds are emerging. Pricing has added approximately $15.3-billion to N America profits since 2019. We are forecasting adj EBIT [earnings before interest and taxes] of $6.
“This list represents some of our fundamental equity analysts’ highest conviction ideas for the 1st quarter... More broadly, our Head of US Equity Strategy, Savita Subramanian, has set her 2023 year-end target for the S&P 500 at 4000 based on $200 EPS .
“Market predictions are silly. We all learned this a long time ago. But that doesn’t mean they’re completely worthless. Even though forecasts are almost always wrong, they can be entertaining and educational… I ‘m not doing anything with my portfolio based on these predictions, and neither should you … These are my ten predictions for 2023. Bonds hold their own as a diversifying asset. Tech continues its layoffs. Jeff Bezos returns to Amazon. The IPO market remains frozen.
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