Make informed decisions with in-depth insights
Raymond James Equity Research employs more than 60 research analysts dedicated to providing insights and context that help investors connect the dots in key industries and across national borders, and make informed investment decisions. They cover over 1,100 companies in nine highly focused industries – consumer, energy, financial services, healthcare, industrial, mining and natural resources, real estate, technology and communications, and transportation – and collaborate to produce detailed supply chain surveys, reports and industry updates.
Please see below for brief overviews of some of our recent in-depth equity research reports. The full reports are available to clients via their financial advisor, institutional salesperson or other Raymond James representative. Institutional clients can access our equity research by logging in below. If you would like to learn more about becoming a client of Raymond James, please contact us. For all relevant equity research disclosure, visit the Disclosures and Definitions page.
2020 Midstream Annual Outlook
Our team remains bullish on 2020-21 oil prices relative to current strip pricing. Our annual outlook provides a primer on investing in energy master limited partnerships (MLPs) and details our investment ideas in the context of our overall outlook for both oil and natural gas prices.
U.S. Oilfield Water Investor Primer
Water management is a major part of the oilfield value chain, with potentially attractive opportunities for investors. Further, we believe there is a "better way" in water management, with ESG, operational, and financial benefits to E&P and midstream companies alike, that is beginning to emerge in this industry.
Banking 2020 Outlook
We expect a steady-state fundamental performance in 2020, coming off of what is likely to be a challenging 4Q19 that will likely include continued net interest margin stress and benign loan growth. Political and economic uncertainty in an election year, coupled with noise from the implementation of CECL (Current Expected Credit Loss) will undoubtedly create noise/volatility in the space.
Healthcare IT 2.0; From Software to Solutions
Our deep dive into the Healthcare IT sector includes background on business drivers, why we think the market will evolve, and a close look at some of the key companies in the sector.
2020 Healthcare Outlook and Top Ideas
Our annual overview of the year that was in healthcare, and our top stock picks for the year that will be. We continue to recommend a balanced approach to the sector, with diversity across growth, value, sector, and market cap.
Diabetes Deep Dive, the Continued Evolution of New Diabetes Tech
In this report, we attempt to unpack the increasingly tangled web of technology supporting people with diabetes, examine the current pipeline and industry direction, as well as provide our opinions on some of the more pressing investment issues and questions in the diabetes Med Tech space.
Truck Equipment: Shifting Gears From Boom & Bust Pre-Buys to an Underlying Desire for New Equipment
Our in-depth report examines an industry in transition, with high barriers to entry. Our analysis includes the key companies in this sector and an examination of the trends of electrification and autonomous vehicles.
What’s in Store for 2020
Our view entering this new decade, on balance, is that our Construction and Engineering universe of companies will continue to consolidate their respective sectors and enjoy powerful urbanization tailwinds. Further supporting this secular shift from rural to urban developments will be technology, a key enabler of socially and environmentally sustainable cities, and historically low interest rates.
2020 Outlook; A Modest EPS Reacceleration, Rotation Continues
Our 2020 outlook assumes a modest improvement in y/y EPS growth vs. 2019, most noticeable in small caps and in cyclical industries, driven by rate-driven demand in the U.S., easing of trade tensions, and easy comps.
Raymond James Strategy for ESG Investing
Socially responsible investing (SRI) has been in existence for quite some time, and has evolved into the more inclusive term — environmental, social, and governance (ESG), which we believe will only become a more meaningful component of the investment process in the future. We authored this primer to contextualize the ESG theme, discuss its growing size and growth prospects, discuss academic findings as to ESG influence on portfolio performance, some of the issues with many studies, and the theoretical context of why, over time, quantifying ESG risks should help drive outperformance.
Housing 2020 Outlook
Homebuilders are poised to enter 2020 with the strongest supply/demand fundamentals we’ve seen in the 10-year housing recovery to date. A deepening inventory shortage of re-sale homes (particularly entry-level) is driving re-accelerating home price appreciation (+5.4% y/y in November) across the U.S.
Real Estate 2020 Outlook
REIT stocks enjoyed a strong year in 2019, benefitting from a drop in the 10-year Treasury yield, as expected fundamentals, and increased interest from generalist fund managers. We maintain our constructive view toward REITs but also recognize the abundance and fluidity of macro/political risks.
Lodging 2020 Outlook
Historically, lodging stocks require positive, risk-on market sentiment and improving fundamentals with beat-and-raise quarters to sustain positive performance, to garner capital inflows into the sector. While we can make an argument that the ingredients needed for such a setup exist, the path of least resistance seems more likely tilted towards continued sluggish growth, cautious guidance for 2020, cautious capital investment and, for the lodging sector, downward pressure on margins/earnings expectations.
2019 Annual Telecom, Cable, and Data Center Overview and State of the Industry
Our annual industry report updates our overall outlook for this sector, incorporating the impact of the past year’s M&A, regulatory changes, and other subtle shifts in the telecom landscape over the past year.
IT Supply Chain: 2019 Review and 2020 Outlook
Our annual industry overview details moderating 2019 spending that still outpaced GDP, leading to solid results across the supply chain. We also look at the vendor effect on specialty distribution and the impact of trade wars on the electronic manufacturing services space.
Examining Online Healthcare
This report examines the emergence of online healthcare, which is one of the key trends we believe will shape healthcare going forward. We expect rapid adoption of online healthcare driven by several key drivers, most notably cost and convenience.
Global Airlines 2020 Outlook
This report takes a comprehensive look at global trends and important considerations for the passenger airline sector heading into 2020. The report also examines macro considerations for the U.S., Europe, Canada, and Latin America.
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