David Kostin from this weekend: "We forecast downside risks to earnings estimates for the remaining quarters in 2022. Full-year EPS estimates have actually been revised 2% higher since the start of the year and earnings growth is forecast to accelerate in coming quarters. Analysts appear reluctant to adequately trim forecasts despite the high degree of uncertainty surrounding the economic outlook. Although our 2022 top-down EPS estimate is 3% below bottom-up consensus ($221 vs. $227), we believe results from 1Q earnings season are unlikely to generate enough clarity for analyst estimates to fully converge to our forecast"