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Favor companies with higher cash flow yields

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Operating cash flow yield has been one of the top factors over the last year and over time. Choose stocks based on price momentum, lower volatility, lower accruals ratio, higher earnings revisions, and larger operating cash flow yield. Selected stocks include: Sanofi, Equinor, Deutsche Telekom, Bayer, Compagnie Financiere Richemont, Capgemini, Orange, BHP, BP, British American Tobacco, Glencore.

Ned Davis Research | Stock Selection | Europe Portfolio Strategy | Monthly

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