COMPASS CHANGES Upgraded financials view to neutral/positive from neutral Upgraded industrial metals view to neutral from negative/neutral INVESTMENT TAKEAWAYS Our S&P 500 Index year-end 2020 fair value target range of 3,250–3,300 is based on a price to-earnings...
COMPASS CHANGES Downgraded real estate view from neutral/positive to neutral Downgraded investment-grade corporate bonds from neutral/positive to neutral INVESTMENT TAKEAWAYS Our S&P 500 Index year-end 2020 fair value target range of 3,250–3,300 is based on a...
COMPASS CHANGES Downgraded master limited partnerships (MLP) from neutral to negative/neutral. INVESTMENT TAKEAWAYS Our preliminary S&P 500 Index year-end 2020 fair value target near 3,200 is based on a price-to-earnings (P/E) ratio slightly above 18 and our 2020...
COMPASS CHANGES Downgraded energy commodities from neutral to negative/neutral INVESTMENT TAKEAWAYS We have maintained our S&P 500 Index year-end fair value target of 3,000 even as the index hovers near that level following recent progress on U.S.-China trade...
COMPASS CHANGES Upgraded short-maturity municipal bonds from neutral/negative to neutral INVESTMENT TAKEAWAYS We have maintained our S&P 500 Index year-end fair value target of 3,000, even after the index broached that target September 17.* We favor large caps as...
COMPASS CHANGES Upgraded our view of large growth from neutral to neutral/positive Downgraded our view of mid value from neutral/positive to neutral Downgraded our view of small value from neutral to negative/neutral Upgraded our view of consumer discretionary from...
