Excerpt from MarketWatch quoting DataTrek’s Nick Colas:
…. “The big estimate cuts are likely a result of analysts assuming the worst as COVID-19 raged. With companies forced to operate largely in the dark during the pandemic, amid a disjointed U.S. government response, they were unable to provide much, if any guidance, for analysts to have confidence in their projections.
“Wall Street expectations are too low for Q4 2020, so we should see plenty of beats,” said Nicholas Colas, co-founder of DataTrek Research. “We need them”….
Read the full article here on MarketWatch!