10:35 AM EDT, 04/01/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

The sector has experienced an improvement in absolute and relative price performance, since most of the inventory destocking that has been a major headwind is now behind key Materials companies. Also, as we get closer to the first rate cut from the Federal Reserve (which should lead to some U.S. dollar depreciation), the fundamentals for the sector should improve. Even though 2024 sector EPS estimates are projected to decline in 2024, according to S&P Capital IQ consensus estimates, 2025 estimates call for EPS growth to approximate that for the S&P 500. In addition, the percentage of stocks within the sector with Buy or Strong Buy recommendations now approximates that for the market as a whole. Finally, the rolling 10-month (200-day) relative price return has recently moved from negative to neutral.