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Favor price momentum despite elevated valuations
Price momentum has been rallying even though valuations are expensive. Complement momentum with greater interest coverage, lower debt/equity, and higher free cash flow/enterprise value. Favored Stocks Include: LVMH, Kering, Beiersdorf, Novartis, Novo Nordisk, Schneider Electric, ASML Holding, Smith & Nephew, Rio Tinto.Ned Davis Research | Stock Selection | Europe Portfolio Strategy | Monthly
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