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It's been a while since we've heard the words "Europe" and "crisis" used in the same sentence. Indeed, new purchasing managers index (PMI) figures appear to be the green shoots of an economic recovery.
All of this comes as the emerging market (EM) countries like China have slowed down considerably.
Investors who believe the tides are beginning to turn will want to adjust their investment exposures before they miss the boat.
"More than a few clients have expressed interest in finding companies with exposure to Europe and less exposure to EM," said Tom Lee, JP Morgan's top equity strategist.
"Granted, Europe is not likely to grow at the pace of EM, but a positive turn is still a positive turn," added Lee.
Lee and his team looked at over 200 companies housed in North America that report their geographic exposure to both Europe and the EMs.
They keyed in on 19 companies with revenue exposure to Europe greater than 25% and revenue exposure to EM less than 10%. Collectively, the stocks have an average upside of 6% to JP Morgan analysts' target price.
-19. EdwardsLifesciencesCo-
*Ticker:* EW
*Industry:* Health care equipment
*Target Price:* $64
*European revenue exposure:* 29%
*EM revenue exposure:* 0%
Edwards Lifesciences beat expectations in Q2 as earnings per share increased 22.39%. Revenue also jumped 7.26% from the year-earlier quarter, to $517 million.
Source: J.P. Morgan
-18. Carnival Corp.-
*Ticker:* CCL
*Industry:* Hotels, resorts & cruise lines
*Target Price:* $34
*European revenue exposure:* 35%
*EM revenue exposure:* 10%
Beset with high-profile disasters at sea, profits have lagged for Carnival Cruise line. The PR nightmares: In February, 3,000 passangers were left without functioning toilets for days. And in January 2012, 32 were killed in a shipwreck off the Italian coast.
Source: J.P. Morgan
-17. Biogen Idec Inc.-
*Ticker:* BIIB
*Industry:* Biotechnology
*Target Price:* $210
*European revenue exposure:* 30%
*EM revenue exposure:* 2%
Biogen reported Q2 revenues of $1.7 billion, an increase of 21% compared with the year-earlier quarter.
Source: J.P. Morgan
See the rest of the story at Business Insider
Reported by Business Insider 14 hours ago.
Clik here to view.
It's been a while since we've heard the words "Europe" and "crisis" used in the same sentence. Indeed, new purchasing managers index (PMI) figures appear to be the green shoots of an economic recovery.All of this comes as the emerging market (EM) countries like China have slowed down considerably.
Investors who believe the tides are beginning to turn will want to adjust their investment exposures before they miss the boat.
"More than a few clients have expressed interest in finding companies with exposure to Europe and less exposure to EM," said Tom Lee, JP Morgan's top equity strategist.
"Granted, Europe is not likely to grow at the pace of EM, but a positive turn is still a positive turn," added Lee.
Lee and his team looked at over 200 companies housed in North America that report their geographic exposure to both Europe and the EMs.
They keyed in on 19 companies with revenue exposure to Europe greater than 25% and revenue exposure to EM less than 10%. Collectively, the stocks have an average upside of 6% to JP Morgan analysts' target price.
-19. EdwardsLifesciencesCo-
*Ticker:* EW
*Industry:* Health care equipment
*Target Price:* $64
*European revenue exposure:* 29%
*EM revenue exposure:* 0%
Edwards Lifesciences beat expectations in Q2 as earnings per share increased 22.39%. Revenue also jumped 7.26% from the year-earlier quarter, to $517 million.
Source: J.P. Morgan
-18. Carnival Corp.-
*Ticker:* CCL
*Industry:* Hotels, resorts & cruise lines
*Target Price:* $34
*European revenue exposure:* 35%
*EM revenue exposure:* 10%
Beset with high-profile disasters at sea, profits have lagged for Carnival Cruise line. The PR nightmares: In February, 3,000 passangers were left without functioning toilets for days. And in January 2012, 32 were killed in a shipwreck off the Italian coast.
Source: J.P. Morgan
-17. Biogen Idec Inc.-
*Ticker:* BIIB
*Industry:* Biotechnology
*Target Price:* $210
*European revenue exposure:* 30%
*EM revenue exposure:* 2%
Biogen reported Q2 revenues of $1.7 billion, an increase of 21% compared with the year-earlier quarter.
Source: J.P. Morgan
See the rest of the story at Business Insider
Reported by Business Insider 14 hours ago.