Adam Parker Makes Case For Owning Energy
On Bloomberg’s Surveillance program, Morgan Stanley chief equity strategist Adam Parker
laid out the case for making a bet on the energy complex. Parker admitted to rating energy a buy back in January, clearly premature and wrong.
Parker said the logic for owning energy was simple as they are cyclical stocks that are down a lot.
Parker added that demand data hasn’t been that weak, but the OPEC decision last fall and other supply factors exacerbated the decline in pricing.
Parker said their experts are looking for oil to begin rising in price in the September/October timeframe.
The E&P (Exploration and Production) companies are attractive according to Parker.
Back in September 2013, Parker provided a bullish forecast for U. S. stocks (link).
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