While we did come in from the beach long-enough last week to share our views on the Brexit vote, it’s good to be back in the saddle full-force with this week’s Tematica Investing.  So let’s get right down to it . . .

In this week’s Tematica Investing:

• Renewed Brexit fallout uncertainty and Italian banking concerns have tipped the market mood back to cautiousness. Recent earnings have been disappointing and likely set the stage for what is to be a challenging June quarter earnings season. We remain very comfortable with the Tematica Select List holdings given the mix of defensive business models and thematic tailwinds.
• We are adding iShares Barclays 20+ Yr Treasury Bond ETF (TLT) shares to the Tematica Contender List and look to revisit the shares closer to $134-$135.
• We are boosting our price target for AT&T shares to $45 from $42 and raising our protective stop loss to $39 from $36. We will continue to keep T shares on the Tematica Select List, but we would not recommend adding to your T shares at current levels.
• We are also raising our price target and protective stop loss for our Physicians Realty Trust (DOC) shares. Our new price target is $25, up from $18, and our new stop loss is set at $18, up from $16. Much like T shares, we will continue to keep DOC shares on the Tematica Select List, but advise against committing fresh capital at current levels.
• Nike (NKE) reported quarterly earnings last week, which were essentially in line. As expected the liquidation sales at Sports Authority and Sports Chalet will be a short-term disruption, and we continue to like the shares given our longer-term perspective. We continue to have a Buy on NKE shares and our price target remains $66.

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