COVID-19 - A Multi-Year Event (16 pgs)
We previously predicted that COVID-19 would have a multi-quarter impact on the economy & market expectations for a quick recovery were misplaced. However, due to Government mismanagement, such as late lockdowns, allowing inbound air travel from COVID hotspots, poor testing, limited ability to contact trace and seemingly poor preparedness for a 2nd wave, the impact of COVID-19 could well last into 2022. In this note we provide clear evidence that public confidence is unlikely to return irrespective of whether governments remove all restrictions and that the route out is neither linear nor will it be the same for all countries. We reiterate our view that stock winners will be winners for longer & Pharma stands to continue to outperform. We prefer Roche, Novo & Novartis.For access to the full note, please contact Naresh Chouhan ( ).
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
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