Beware the 'market darlings' says UBS chief strategist, page-3

Thanks for the share, I think there are some good points in this article:

1. Market darlings like A2M run the risk of being priced to perfection, as we saw with the drop in the shareprice a few weeks ago. This means that potential downside could be higher than upside when earning reports come out.
2. Valuations of stocks are discounted to a present value using interest rates, meaning an increase in rates will lower the present values of stocks. But this is systemic across any asset classes that are discounted and not really specific to A2M or any other stocks he mentioned.
3. As he mentioned, stocks like A2M could continue growing and justify earning ratios in the multiples of the market.

So what he's telling us is that stocks like A2M could go up, or down, or sideways