What A Covid-19 Recovery Could Look Like

Published July 6, 2020

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Key Takeaways


  • May’s retail figures are deceiving and should not be taken out of context.

  • CFRA examines three scenarios (bull, base, and bear) of what a Covid-19 recovery could look like.

  • We think consensus estimates are in ‘la-la-land,’ pricing in a ‘V’ shaped recovery and ignoring a number of risks.

  • A resurgence of Covid-19 poses a major concern and suggests a ‘W’ shaped recovery is the most likely.

  • Here we name Covid-19’s winners – BBY, DKS, DG, PTON, WSM – and losers – DDS, KSS, LB, M, JWN.




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