Truist Securities Daily Spotlight

Research evidence excerpt

Truist Securities Daily Spotlight

seen, the stock appears to be under pressure for factors that

have already likely played out (Double Jeopardy). No, we can’t

call the timing for a positive inflection. However, given HD’s

stable sales and the industry’s cycle-low levels of investment,

we continue to think the risk/reward is skewed significantly more

to the upside. Remain Buyers; PT to $369 from $394. - Scot

Ciccarelli

Amer Sports, Inc. (AS, $33.15, Buy) - AS - Quick Take - Solid

beat & raise; brand momentum/higher income customers remain

key differentiators AS - Quick Take - Solid beat & raise; brand

momentum/higher income customers remain key differentiators -

Joseph Civello

Data Science

DataDriven by Truist Securities - Weekly Truist Card Data for

Goods - Apparel & Accessories Ending 05/16/2026 - In this bi-

weekly report, we examine Goods with a focus on 19 brands

across Non-Athletic Footwear, Accessories, Children’s Apparel,

Mall Apparel, & Online Apparel. The Truist Card Data (herein also

referred to as “the Data”) implies growth at Crocs (CROX, NR) &

Designer Brands (DBI, NR) has been negative Y/Y over the last

few weeks. The Data implies growth at Signet (SIG, NR) & Gap

(GAP, NR) has decelerated over the past few weeks. The Data

implies growth has decelerated in May MTD at Urban Outfitters

(URBN, NR), Lululemon (LULU, Hold, Civello), American Eagle

(AEO, NR), & Citi Trends (CTRN, NR). - JP Gravitt

Healthcare

IQVIA Holdings Inc. (IQV, $173.18, Buy) - IQV - AI Takes The

Spotlight During HQ Visit; Mgmt Sees Disconnect Between

Valuation & Operational Reality - We hosted a group of investors

for a trip to IQVIA’s (IQV, Buy) HQ in Parsippany, NJ to meet

with the company’s CEO, Ari Bousbib, its CFO, Mike Fedock, its