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Down, But Not Out - Investing in Distressed Industries

February 25, 2021 11:00 AM ET | 8:00 AM PT

The New Normal: 2021 Outlook

CFRA’s webinar series cover critical themes and topics that financial professionals and investors should consider as they outline their investment strategy. In our ongoing series, The New Normal: 2021 Outlook equity analysts explore trends and topics across key industries that are at the center of projected market changes as we transition from Covid-19 and the uncertainty of the U.S. elections to economic recovery and a period of adjustment to the new market environment.

Acclimating to the new market environment means that many investors may need to re-orient their investment approach. CFRA is here to provide timely, forward-looking investment research and the best support to investors and financial professionals. 

Session 1: Outlook 2021—Pandemic Pop
Session 2: Healthy Living: Focus on Health Care and Building Products
Session 3: Hedging Uncertainty for All of 2021
Session 4: Investor's Guide to Bitcoin 

Session 5: Down, But Not Out — Investing in Distressed Industries 

Covid-19 sent the economy into a recession in 2020, but U.S. equity markets have mostly looked past the turmoil, with the S&P 500 up 20% compared to the start of 2020. However, the market’s rally mostly excluded disrupted businesses involved with travel or close quarters gathering. Could Covid-19 vaccines be the light at the end of the tunnel for these distressed industries?

We know the Winter Covid-19 surge has rekindled investor concerns for global hotels and casinos with a seismic disruption, and notable equity underperformance for these industries has persisted into 2021. Yet, CFRA believes with further easing of international and domestic travel restrictions and the likely widespread availability of vaccines by H2 2021, some hotel and casino operators could significantly benefit from pent-up demand on the heels of their multi-year capacity expansion.

Also, it comes as no surprise that airlines and aircraft makers were left out of the broader market’s historic rally during the pandemic, falling 25% and 35%, respectively, since the start of 2020. This has been due to the well-documented global air travel depression during the pandemic.

However, most firms involved with air travel have taken mitigating actions to shore up their liquidity and ride out the pandemic. And with the global vaccine rollout now poised to unleash pent-up air travel demand this spring and summer, CFRA thinks certain airlines and aircraft supply companies are poised for market-beating returns this year.

During the webinar, Equity Analysts Tuna Amobi, Colin Scarola, and moderator Director of Equity Research Ken Leon covered these topics and more.



Tuna Amobi

Vice President, Equity Analyst, CFRA

Colin Scarola

Equity Analyst, CFRA


Ken Leon

Moderator, Director of Equity Research, CFRA.

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