HRGLY - Librarian Capital's Monthly Top Buys And Price Moves - July 2021

• Admiral, the #1 U.K. motor insurer, and Swedish Match, a Swedish tobacco company, moved into the top 10 in our Top Buys chart.
• Hargreaves Lansdown is now #3 by forecasted return, likely to see near-term headwinds but should do well over the long term.
• We initiated coverage on Henkel, a German industrial/consumer conglomerate, with a Buy and an expected 13.2% annualized return.
• We initiated a Neutral rating on AT&T, due to structural concerns, and downgraded Pernod Ricard to Neutral, due to valuation.
• The "rotation trade" lost its popularity in June, which meant "expensive" technology stocks in our coverage gained while bank stocks fell.

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