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"Apathy, Caution, And Chagrin": UBS Sours On Consumer Stocks
"Apathy, Caution, And Chagrin": UBS Sours On Consumer Stocks
The Street's mood toward US retail has been described by UBS analysts as "apathy, caution, and chagrin."
"Investors are engaged, but not necessarily enthusiastic. They remain interested, but increasingly selective. Most importantly, conviction feels harder earned than it has in years," Michael Lasser, a managing director and senior equity-research analyst at UBS, wrote in a note on Thursday.
Goldman Sachs consumer expert Scott Feiler wrote yesterday that "consumer stocks have had a tough run the last few weeks" and pointed to Goldman's...
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