Core Viewpoint - The healthcare sector is showing initial signs of recovery after reaching a 30-year high in valuation discount relative to the S&P 500 index [1][2] Group 1: Market Performance - Since reaching a historical high on September 3, 2024, healthcare stocks have been in a "persistent downtrend," underperforming both in absolute terms and relative to the S&P 500 [1] - August is identified as a turning point for the sector, with healthcare stocks beginning to reverse their previous weak performance [1] Group 2: Economic Environment - The recovery is driven by a historically significant valuation gap and an economic backdrop characterized by GDP growth slowing to 1.5% or lower while inflation remains at 3% or higher, which historically favors the healthcare sector [1] - The dual effect of valuation discount and improved sentiment provides strong justification for including healthcare stocks in investment portfolios under the current economic conditions [2] Group 3: Investment Recommendations - Evercore ISI highlights several healthcare stocks with attractive valuations and sentiment, including Cencora (COR.US), BioMarin Pharmaceutical (BMRN.US), Cigna (CI.US), Cardinal Health (CAH.US), Humana (HUM.US), Incyte (INCY.US), LabCorp (LH.US), Pfizer (PFE.US), Quest Diagnostics (DGX.US), Teleflex (TFX.US), Tenet Healthcare (THC.US), Universal Health Services (UHS.US), and Viatris (VTRS.US) [2]

此次医疗股的潜在复苏，被这位策略师形容为"史上最迅猛熊市反弹的组成部分，预示着更大规模的牛 市行情有望延续至2026年"。 他指出，估值折价与情绪改善的双重效应，为投资者在当前经济环境下将医疗保健股纳入投资组合提供 了有力依据。 Evercore ISI推荐的兼具估值与情绪吸引力的医疗保健股包括：Cencora(COR.US)、拜玛林制药 (BMRN.US)、信诺(CI.US)、卡地纳健康(CAH.US)、哈门那(HUM.US)、因赛特(INCY.US)、徕博科 (LH.US)、辉瑞(PFE.US)、奎斯特诊疗(DGX.US)、泰利福(TFX.US)、泰尼特(THC.US)、Universal Health Services(UHS.US)及Viatris(VTRS.US)。 Emanuel分析称，本轮复苏动力源于历史级的估值差距以及"GDP增速降至1.5%或更低而通胀维持在3% 或更高"的经济环境——这种宏观背景历来有利于医疗板块跑赢大盘。 从量化角度看，兼具估值吸引力与"高市场情绪"的股票已证明"在当前市场倍数如此极端高企的情况 下，能持续创造超额收益"。他补充强调，关注盈利预期上调趋势强劲的个股，可帮助 ...