CARR - Let's make a deal? BTIG screens top merger targets

metamorworks/iStock via Getty Images M&A activity tends to cycle with overall market direction and level of margin debt. And deals could be poised to eclipse their 2015 highs, BTIG Chief Equity and Derivatives Strategist Julian Emanuel writes in a recent note. "Many companies whose shares and valuation have soared along with the prospect of cyclically strong earnings all while carrying prospectively burdensome debt loads, face a choice," Emanuel writes. "Might they consider a sale?" BTIG ran a screen to produce its "Let's Make a Deal" list, starting with Russell 3000 (IWV) companies with a market cap lower than $50B. "We screen for their shares to be +100% or more since 3/23/20, -15% or less from the post-3/23/20 peak, and positive overall since the cyclically higher period of market volatility began on 12/31/2017," Emanuel says. "We then look for above-Russell 3000 estimated EPS growth (FFO for Real Estate) in 2021 (43.9%)

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Let's make a deal? BTIG screens top merger targets