Despite concerns about the European debt crisis, one Pimco managing director still sees some global stocks that could boost investors’ portfolios.
“Today, we’re liking companies that have very strong balance sheets, attractive valuation today, strong cash flow generator, and a market leadership position,” said Pimco’s Neel Kashkari.
Vodafone, which owns 45 percent of Verizon Wireless in the U.S., is among his top picks. Kashkari said he thinks the stock has been oversold because of concerns about European debt.
Kia Motors , which boosted its European sales by 25 percent by increasing its market share in the region, is another one of his recommendations.
“Even though our outlook for the economy is moderate, we think we can find good stocks today that are going to be good long-term holdings,” Kashkari said.
Kashkari listed SamsungElectronics as an example.
“Buy Samsung today — we think it’s a good long-term holding,” he said.
He added that chip-maker Inteldelivers a 25 percent return on equity. Kashkari said the company is trading at a “cheap valuation” of 10 times earnings because people are nervous about its personal computer shipments.
—By CNBC.com's Katie Little; Follow Her on Twitter @katie_little
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Disclosure information was not available for Neel Kashkari.