2022-01-27-瑞士信贷集团-2022年股市_拐点_54页_3mb

Summary: Credit Suisse 2022 Inflection Point Report

Introduction

This report identifies 35 global stocks with potential inflexion points in 2022, focusing on catalysts such as operational improvements, management changes, and industry trends. The analysis prioritizes microeconomic factors over macro debates, offering specific target prices and highlighting opportunities where Credit Suisse's views diverge from consensus.

Stocks Overview

• EMEA Focus: Key catalysts include rising US interest rates for Aegon (de-risking strategy), M&A for abrdn (interactive investor acquisition), and supply chain recovery for Boohoo. Heineken and easyJet emphasize price/mix improvements and travel recovery.
• APAC Highlights: BYD (EV sales growth) and CNOOC (dividend incentives) drive earnings potential, while Inovance (automation) and Luzhou Laojiao (ESOP) benefit from policy shifts.
• Americas Opportunities: Energy transition supports Chart Industries, while ZoomInfo (data monetization) and Humana (healthcare rates) see valuation catalysts.

High-Conviction Stocks

• Credit Suisse ranks 35 stocks based on conviction against consensus, with notable upside cases like Delivery Hero (profitability) and State Bank of India (ROE improvement).

Conclusion

The report underscores that inflexion points in 2022 represent key opportunities for investors across regions, driven by sector-specific catalysts and valuation differentials.