(Premium) February Materials Outlook
Within the Materials sector, Air Products and Linde still have favorable setups. For APD, we want to be long with a target of 365 if the stock is above 310.
Linde is still battling its January 2022 highs, but if it breaks above 350, we think it’s headed to 470.
Newmont hit our initial target of 54, but now it’s stuck below the 2020-2021 trading range. We still think it could go all the way back to 80 IF it can recover above 54 AND the rally in precious metals continues. However, the risk right now is a decline back to the 40s.
Base metal producers are structurally in a better position. We can target 64 for copper miner Freeport-McMoRan as long as its above 42.
Click on each section below to see the rest of our February outlook:
Fixed Income, Currencies, and Commodities Communication Services Sector Consumer Discretionary Sector Consumer Staples Sector Energy Sector – UNLOCKED Financials Sector Health Care Sector Industrials Sector Information Technology Sector Materials Sector Real Estate Sector Utilities Sector
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