Jefferies Identifies High-Quality Energy And Materials Stocks As Cyclical Rotation Accelerates
Jefferies analyst Lloyd Byrne highlights tailwinds for energy stocks due to strong refining margins and earnings estimates, despite stretched valuations. Byrne identifies Valero as a top pick for refining margins, while ConocoPhillips and EOG benefit from higher crude and gas prices. Materials stocks like CF Industries, Avery Dennison, and Crown Holdings are favored in a high-real-rate environment. ETF flows show strong inflows into cyclicals, particularly materials and energy, with outflows fro

