27 March 2026 | 4:28PM EDT Equity Research Energy, Utilities & Mining Pulse: Investors Asking: What Mid-Cycle Are Stocks Discounting? Amid heightened geopolitical volatility, investors are looking for stocks that offer compelling valuation based on mid-cycle prices, recognizing further upside exists if commodity prices stay strong. This week in the Pulse, we ask our senior analyst team what they estimate stocks in their coverage are currently discounting in terms of either a mid-cycle commodity price or a n ...