News Snapshot:
Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow BofA Securities equity and quantitative strategist Ohsung Kwon predicts that the trough for U.S. earnings is imminent, “While a potential recession in 2H (house view) could put some pressure on the consensus 2H earnings recovery, we believe the downside risk will be mitigated given companies’ cost cuts ... We thus raise our 2023 EPS forecast to $215 (down 1 per cent year-over-year) from $200. We now expect 2Q to be the trough on a quarterly basis (-8% YoY) and 3Q to mark the trough on...
