Pedestrians wearing protective masks passed through a Microsoft Technology Center in New York, on Wednesday, July 22, 2020.
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Morgan Stanley believes revenues hit bottom in the second quarter and the current reporting period offers great buying opportunities for investors.
United States chief equity bank strategist Michael Wilson said the 21% drop in S&P 500 earnings would be a sufficient improvement to confirm the second quarter was the trunk quarter for the round this. S&P 500 revenue declined 30.6% in the previous quarter, according to Refinitiv.
The bank has highlighted 15 names that its analysts have high beliefs about going into the revenue era. The firm’s analysts believe that one or more imminent events will bring the material price share over the next 15 to 60 days.