Barclays
May 22, 2026
Americas Morning Research Summary
Market ReportEquitiesMacro Economic IndicatorsMaterialsConsumer Discretionary
This morning summary highlights Barclays' initiation of coverage on the Metals & Mining sector and significant model updates for major US corporations including Target, Deere, and FedEx. Key themes include accelerating AI infrastructure growth and strategic corporate portfolio simplifications.
Key Takeaways
- 1.Barclays initiates coverage on the North America Metals & Mining sector, identifying copper, rare earths, and uranium as primary beneficiaries of growth in transformative technologies.
- 2.The outlook for the Data Center Switching market has been significantly raised to 47% growth in 2026, driven by accelerating Cloud and AI infrastructure demand.
- 3.Devon Energy (DVN) acquired New Mexico BLM leases for $2.6 billion, a record-breaking deal that Barclays views as positive for high-grading Tier-1 inventory.
Table of Contents
- Basic Industries
- Consumer
- Energy
- Financial Services
- Healthcare
- Industrials
- Internet & Media
- Investment Strategy & Macro
- Power & Utilities
- Retail
- Technology
- Equity Strategy
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Authors
Richard GarchitorenaSeth SigmanBetty JiangTim Long
Securities
DVNFDXTGTAEMLLY
Themes
AI and Cloud Infrastructure AccelerationStrategic Resource Security (Copper & Uranium)Corporate Portfolio Simplification (Spins & Divestitures)
Regions
North AmericaLatin AmericaAsia PacificUnited StatesCanadaChina