The Bottom Up Outlook For Stocks Remains Positive
By Lori Calvasina
Published March 24, 2021 | 6 min listen
In this edition, we discuss the results of our March 2021 survey of RBC’s equity analysts, in which we asked them to quantify their outlooks for their industries on 6 issues – performance, cash deployment, margins, valuations, fundamentals, and policy. Overall, our analysts are optimistic on performance, cash deployment, fundamentals, and margins. They are less enthused about the state of valuations and the Washington policy backdrop, and are split on the impact of inflation. Our Financials team stood out for being the most constructive on several questions, supporting our ongoing overweight on the sector. Our Consumer Staples team stood out for seeing a major, positive change in view since the start of the year, supporting our upgrade of the sector to market weight.
Lori Calvasina
Managing Director & Head of U.S. Equity Strategy, RBC Capital Markets
Lori Calvasina joined RBC Capital Markets as Head of U.S. Equity Strategy in 2017 as a Managing Director. Having spent nearly two decades as an equity strategist at major investment banks, Lori is an expert on the US stock market, and regularly represents RBC in the financial media on Bloomberg and CNBC. Prior to joining RBC, Lori was a senior equity strategist at Credit Suisse from 2010 to 2017, covering Small/Mid Cap Strategy from 2010-2014 and both Small/Mid Cap and US Equity Strategy from 2015-2017. She spent the first ten years of her career at Citi in a variety of roles including lead Small/Mid Cap Strategist from 2007-2010. In both 2008 and 2009 Lori was ranked #2 in the Small Companies category in the Institutional Investor All America Research team poll. Lori is a graduate of the University of Virginia and its selective Government & Foreign Affairs’ Honors Program. In 2019, she was named to Crains New York’s list of Notable Women in Finance.
Cash DeploymentEquity MarketLori CalvasinaStock Market