Fundamental Short Selling Research

Eric Fernandez, CFA

TwoRiversAnalytics

Cross Asset Strategy

<ul>
<li>Analyst sentiment was flat to down slightly.  A net 27% of companies are seeing raised estimates.  The average estimate revision is a raise of +0.7%.</li>
<li>Analyst sentiment is crowded and bullish for Precious Metals, Restaurants, Internet Retail, Computer Processing Hardware, IT Services, Packaged Software, Advertising &amp; Marketing Services and Specialty Telecom.</li>
<li>Notable reversals in estimates occurred in Distribution Services, Broadcasting and Investment Banks (from cuts to new raises) and in Utilities and Engineering &amp; Construction (new cuts). </li>
</ul>


Analyst sentiment was flat to down slightly.  A net 27% of companies are seeing raised estimates.  The average estimate revision is a raise of +0.7%.
Analyst sentiment is crowded and bullish for Precious Metals, Restaurants, Internet Retail, Computer Processing Hardware, IT Services, Packaged Software, Advertising &amp; Marketing Services and Specialty Telecom.
Notable reversals in estimates occurred in Distribution Services, Broadcasting and Investment Banks (from cuts to new raises) and in Utilities and Engineering &amp; Construction (new cuts). 


Energy and Industrials Estimates in Accelerating Downtrends, Soon Be Joined by Industrial Services