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Bank of America Corporation Message Board

  • madmoneycramer madmoneycramer May 17, 2013 5:07 AM Flag

    UBS lifts financials to overweight, cuts telecoms

     

    Do exactly the opposite....short financials at 52 weeks high.....and load defensive......this market will be rock&roll soon....!!!!

    UBS lifts financials to overweight, cuts telecoms

    UBS on Friday upgraded its stance on global financials to overweight from underweight, citing an improvement in the global economy and stronger capital levels. "The global economy is healing, capital has been rebuilt and the sector has moved from being a net issuer to net distributor of cash," the analysts said in a note. Additionally, they lifted European banks and diversified financials to a small overweight from a small underweight, reflecting a view that both the micro and macro outlook for financials are improving. From a banking perspective, UBS upgraded the U.S. to overweight due to the housing market recovery, strong balance sheets and attractive valuations, while Europe's banking sector was lifted to neutral with a preference for Nordic and U.K. banks. To accommodate the upgrades in the financial sector, UBS cut telecoms to underweight and energy to neutral.

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