Here are some of the stocks UBS analysts think will outperform amid an uncertain market environment.
As several macro overhangs weigh on the markets, UBS named its most compelling plays for the rest of 2023. Investors have been worried about a possible recession, while U.S. lawmakers are working to secure a debt ceiling deal as June 5, a projected date when the country could default, inched closer. The bank's North American analysts highlighted the buy-rated stocks for which their outlook is uniquely differentiated from the Street.
" Pharmaceutical giant Eli Lilly is another stock UBS thinks can outperform during uncertain times. The firm has a price target of $498 on the stock, implying 17% upside from Friday's close. UBS thinks the company's weight-loss drug Mounjaro is "currently underappreciated," noting: "We expect Mounjaro, the base business, and pipeline to drive a 5yr top and bottom line CAGR of 16% and 29%+, respectively.
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