CBS, Charter Rate Buys After Brexit

Morgan Stanley cites low exposure to oversees revenue
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Related: Analyst: Brexit Could Delay IT Investment

Brokerage Morgan Stanley released a list of stocks to buy following the selloff caused by the British vote to leave the European Market.

The Brexit vote pushed the Dow Jones industry average down 600 points Friday and over 200 more Monday.

Morgan Stanley’s list included CBS and Charter Communications.

“While CBS shares are driven largely by the company’s advertising exposure, this exposure is entirely in the US, and our work shows the US ad market looks quite strong right now,” said analyst Benjamin Swinburne.

Similarly, Swinburne said “Charter Communications is all US-based. 5% is ad-exposed while the rest is an ISP/cable subscription business. All its debt is US-denominated as well and not exposed to European/UK credit markets.”

Other companies on Morgan Stanley’s list include Amazon, Alphabet, Apple and Facebook.

(Photo via freestocks.org's Flickr. Image taken on June, 24, 2015 and used per Creative Commons 2.0 license. The photo was cropped to fit 3x4 aspect ratio.)

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