UBS says get defensive as global growth disappoints. Gives stocks to buy

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Stock Markets,Constellation Energy Corp,Eli Lilly And Co

As global growth slows, UBS is staying overweight on defensive names, unveiling a list of top buy-rated stocks.

As global growth continues to slow, investors should get overweight on defensive names, according to UBS. August marked yet another month of declining global growth, as the Global Purchasing Managers' Index, or PMI, reported 49.5 for the month , down from 49.7 in July, according to S & P Global Market Intelligence. That marks the second consecutive month with a reading below 50 — the breakeven threshold for activity — and is indicative of a contraction. U.S.

Wall Street has taken a bullish stance, as 12 of the 18 analysts covering the stock have issued strong buy or buy ratings, according to LSEG. The stock has an average price target of $220.03, which implies more than 10% upside from Monday's close. Constellation Energy has also been on a monster run this year, with shares surging 70%. The stock finished higher by 1.7% on Monday, posting a six-day winning streak.

 

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