We see limited downside to our conservative assumptions.
With Hikma trading at 15 times 2017 estimated earnings, a substantial discount to history, we see limited downside near-term.
"My investment thesis was this had limited downside because it is prime, prime real estate," Mr. Campbell said.
Investment banks are also throwing more resources into merger and restructuring advice, neglected by some during the boom as "a mere pimple on the donkey's arse", as one veteran puts it, but now seen as a core source of revenue with limited downside.Much of this comes in anticipation of new rules designed to curb bankers' wilder instincts.
"Attractive valuation and reasonable consensus estimates should limit downside, in our opinion".
Call options combine the leverage and interest rates of futures with hedging in order to limit downside risk.
"While we do not expect a particularly eventful earnings season in terms of qualitative newsflow, we believe that at current levels there is limited downside risk".
"We believe that Pfizer's shares represent excellent value," said Ryan. "The current yield limits downside risk, and we expect another double-digit increase in the dividend in December".
The research firm noted also that Micron's valuation currently is in the lower end of its historical range, and said it foresees limited downside risk in the near term.
But, before we all race to the roof and try to end our collective misery, I don't think it's the end of the world, and I think there are a lot of investments out there that are interesting and that probably have relatively limited downside.
