SWMAY - Librarian Capital's Monthly Top Buys And Price Moves - March 2021
- We like U.S. cable: Altice USA has been added to our “top buys", Charter is still at No. 1, and we have revised our forecasts on Comcast upward.
- Tobacco stocks again comprise four of our top 10, even with Altria rising 17% in March. We also reiterated our Neutral rating on Imperial Brands.
- We upgraded Zoetis to Buy; shares have corrected by nearly 10% since our November downgrade, and Q4 results led to higher forecasts.
- Bank of America and JPMorgan had another strong month; on current forecasts they are no longer Buys, but we have not made up our minds.
- PayPal shares fell 7.2% in March and are 22% down from their mid-February peak; with hindsight, 80x non-GAAP EPS was too expensive.
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Librarian Capital's Monthly Top Buys And Price Moves - March 2021