A collection of so-called momentum misers are already seeing their 2024 earnings estimates revised downward and the stocks have few reasons that could drive them higher, according to Julian Emanuel, Evercore ISI managing director and head of equity, derivatives and quantitative strategy.
Lowe's first-quarter results are due out on May 21, but 2024 earnings estimates have fallen 4.7% year to date, according to Evercore.
LOW YTD mountain Lowe's stock.
MicroStrategy also made the Evercore list.
Still, its 2024 earnings estimates have been revised down by more than 116% since the year began.
Persons:
Julian Emanuel, Emanuel, Russell, Lowe's, Morgan Stanley, Simeon Gutman, Gutman, MicroStrategy
Organizations:
ISI, Coterra Energy, Citigroup