Business sentiment and growth expectations look promising under the incoming presidential administration, according to a survey conducted by Hartford-based investor research firm Corbin Perception.
The company’s quarterly research report, “The Buy-side,” is based on survey responses from 101 institutional investors and sell-side analysts.
For the current first quarter, the majority of investors and analysts surveyed expect earnings results that are in line with or better than fourth quarter 2016 results. Sixty-two percent say 2017 annual guidance will be higher than last year.
That same percentage reveals management is perceived as neutral or bullish compared to 39 percent last quarter, the report found.
Steve Gattuso, portfolio manager at Courier Capital, said earnings will likely meet or exceed consensus generally on consumer spending trends, wage gains and job growth, even though earnings expectations have risen.
“We are witnessing an almost cathartic response to the administration change in the U.S. Animal spirits are back and the question now becomes whether Congress and President-elect [Donald] Trump can implement real business-friendly policy reforms,” observed Rebecca Corbin, founder and managing partner of Corbin Perception.
