"United HealthCare, 3Com Among Favored Stocks of DLJ's Galvin"
Bloomberg News
May 2, 1998, 2:11 p.m. PT
New York, May 2 (Bloomberg) -- United HealthCare Corp., 3Com
Corp., British Petroleum Co. and UNUM Corp. are among the favored
stocks of Tom Galvin, chief investment strategist at Donaldson,
Lufkin & Jenrette, Barron's reported. Galvin, who expects the Dow
Jones industrial average to reach 12,000 by the end 1999, cited
the smoother-than-expected progress of the European Union, the
unlikelihood that China will devalue its currency and weak oil
prices as positive signs in the world economy that will push the
Dow higher. In the health care industry, Galvin also likes Humana
Inc. and Merck & Co.; in technology, he like Compaq Computer
Corp. and Yahoo! Inc.; in energy, he likes Mobil Corp. and EVI
Inc.; and in financial services, he likes Ace Ltd. and Chubb
Corp., the paper said.
The Dow has risen 32 percent in the past 12 months, compared
to the S&P 500, which has risen 40 percent.
--Wes Conard in the Princeton newsroom (609) 279-4105/shw
news.com
Mang |
