Evercore ISI：政策红利将至 这些“K型经济”受损美股2026年有望反弹

Group 1 - The focus on "affordability" by policymakers is expected to drive a recovery in underperforming sectors of the economy and stock market by 2026 [1] - The "Inflation Reduction Act" is projected to release approximately $300 billion in stimulus during the fiscal year 2026, equivalent to 1% of the US GDP, with about 45% of the funds coming from tax cuts primarily benefiting middle-class households earning less than $200,000 [1] - The Federal Reserve's policy adjustments are anticipated to support both essential and discretionary consumer sectors, with a predicted interest rate cut of 25 basis points likely in December [1] Group 2 - The essential and discretionary consumer sectors are expected to outperform once the Federal Reserve initiates a rate-cutting cycle, with significant performance improvements projected over 6 and 12 months [2] - Investment opportunities are identified in stocks severely impacted by the K-shaped economy, specifically those with declining stock prices, price-to-earnings ratios below their five-year averages, and net profit margins underperforming their five-year averages [2] - Recommended stocks include Mondelez (MDLZ.US), Colgate (CL.US), Constellation Brands (STZ.US), Darden Restaurants (DRI.US), Lithia Motors (LAD.US), PVH Corp (PVH.US), and Energizer Holdings (ENR.US) [2]