Bank of America says they could join ‘billionaire club’
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Analysts Bank of America have selected beauty actions that they believe will come back “stronger than ever” from the coronavirus pandemic.
Within the beauty industry, the “sweet smell of opportunity” is likely to come from the $ 26 billion fragrance market, according to BofA in a research note released in May.
As perfume sales fell $ 5 billion year-over-year in 2020, the industry is poised to rebound in part thanks to a better e-commerce experience for shoppers, analysts said. . Some fragrance brands could be part of a “billionaire club,” they added, which means they could achieve more than $ 1 billion in annual product sales.
The choices of listed stocks to buy from BofA are: