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Stock impact report

‘A trove of rebound opportunities': Strategists turn bullish on biotech and more, picking top stocks [CNBC]

Biomea Fusion, Inc. (BMEA) 
Company Research Source: CNBC
tech as areas to watch. “Emerging from a poor capital raising environment in '22-23, where early-stage biotech companies grappled to fund their Research and Development efforts amid rising interest rates, the battered sector finally is seeing a revival in Mergers and Acquisition deals as the new year begins,” Citi Global Wealth Investments said in a Jan. 14 note. There's already been about $9.6 million worth of transactions so far in January, the bank noted. As a sector, health care underperformed the broader market last year, with the iShares U.S. Healthcare ETF gaining only around 2% for 2023. But now, Citi believes that “astute investors may find themselves with a trove of rebound opportunities.” It urged investors to reflect on the “inherent resilience” of health care over the long term, noting that the sector recorded positive earnings growth over the three recent global earnings recessions. “As macro tides shift, we see health care as an unstoppable trend beneficiary, with growt Show less Read more
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