(Bloomberg) -- Spurred by improving economic growth and bets for a pickup in inflation worldwide, analysts are turning bullish on global profits to a level that has boded well for equities in the past. Earnings upgrades in March outnumbered downgrades for the first time in six years, according to a Bank of America Merrill Lynch note. The occurrence has historically preceded an equity rally in the following 12 months, the strategists wrote.
--With assistance from Wendy Soong
To contact the reporters on this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net, Blaise Robinson in Paris at brobinson58@bloomberg.net.
To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, Kasper Viita, Sheldon Reback
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
