Sell-Side Rotates Into Consumer Beta and China Mobility as Upgrade Cycle Broadens
Bernstein lifts Wayfair on a revenue growth outlook while Macquarie upgrades DiDi Global on improved earnings, with two Outperform-rated Chinese EV names added to the conviction list.
Research desks are re-rating cyclically exposed consumer and Chinese mobility equities, signalling growing confidence that the earnings trough is behind these names. The clustering of upgrades across Wayfair, DiDi and Chinese EV manufacturers points to a coordinated shift in sell-side risk appetite.
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