UBS: Joe Biden's infrastructure plan could spell big upside for stocks

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UBS: Joe Biden's infrastructure plan could spell big upside for stocks

Wind turbines at the Whitewater, California Wind Farm owned by NextEra Energy Inc. in San Gorgonio Pass on February 17, 2021 were built on Feb. 17, 2021.

President Joe Biden said Thursday that a big infrastructure package could spell a great upside for a handful of stocks in the semiconductor, broadband and industrials industries.

Chief U.S. equity strategist Biden screened the broad Russell 3000 to reach roughly 200 U.S. stocks with substantial revenue exposure to Keith Parker's$ 2 trillion infrastructure plan.

Based on that analysis, UBS recommends investors stay in most industrial sectors and metals over overweight industrials. The brokerage likes the technology space, particularly wide semiconductor stocks that could be beneficiaries of a relevant broadband rollout under the Biden plan.

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