Aug. 21 at 4:44 PM
Goldman: Aug to Sept corporate repurchase window is historically strong. This 2-month period is the 2nd best of the year with 20.7% of executions - estimates about
$1T in stock buybacks being executed this year.
Evercore ISI: Regardless of economic context - recession vs No recession, companies' w/ a high buyback factor have outperformed during cut cycles since 1990 "with a 100% hit rate" adding "when the fed cuts, buy the buybacks."
Across different rate-cut periods including the July 2019-March 2020, September 2007- December 2008, the September 98 - November 98, and July 1995 to January 1996, stocks with a high buyback factor had a period positive performance relative to factors including dividend, growth, valuation, leverage and others
Evercore ISI flags a "potential outperformers" in the Russell 3000 group of stocks that boast a high factor for buybacks that will also be AI beneficiaries including
$VRT $AAPL &
$AVGO
$PKW $COWZ