Jefferies Identifies High-Quality Energy And Materials Stocks As Cyclical Rotation Accelerates

Jefferies Identifies High-Quality Energy And Materials Stocks As Cyclical Rotation Accelerates Jefferies analyst Lloyd Byrne wrote in a note on Monday that surging refined-product margins, stronger gas-fired power demand, and improving earnings estimates are providing clear tailwinds for energy stocks, even as valuations and technicals appear stretched. Byrne showed that the clearest source of strength in the energy market is refining. The six-month New York Harbor diesel-to-cru...

By Tyler Durden