Summary
CHEAP, cheap, cheap. This was the heading and the conclusion of an equity strategy note written by Citi analyst Jonathan Stubbs this week.
He was talking about defensive stocks, which have endured a 'brutal' re-rating as the wider market picked itself up off the canvas with a 27pc rally since March.See the full content of this document
Extract
Healthy pharm produce
Worst affected have been sectors such as healthcare, food and drinks and telecoms. In some cases price-to-earnings ratios are at lows not...
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