That means earnings are about to take off in nearly every area of the market, the firm said.
AdvertisementAdvertisementInvestors could soon face a once-in-a-lifetime investment opportunity in stocks, thanks to a coming pop in corporate profits across sectors of the market, according to the investment firm Richard Bernstein Advisors.
"Furthering the airplane metaphor, we see profits taking off …Corporate profits are accelerating and the overall economy looks set to remain quite healthy."
In the US, leading indicators for corporate profits have also bottomed, which suggest that earnings will gain momentum into next year.
"Such narrow leadership seems totally unjustified and their extreme valuations suggest a once-in-a-generation investment opportunity in virtually anything other than those 7 stocks," the firm added.
Persons:
RBA, —, Richard Bernstein
Organizations:
Service, Richard Bernstein Advisors