Traders work at the JPMorgan Chase & Co. booth on the floor of the New York Stock Exchange (NYSE) in New York.
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Stocks are struggling to shake off the pullback amid the coronavirus outbreak, but investors may be able to hide out in one information technology stock, according to JPMorgan.
The bank upgraded Motorola Solutions to neutral from underweight after its shares sank during last week’s sell-off. The stock closed at $186.12 per share on Feb. 19, but fell all the way to $165.68 per share by the close of Feb. 28.
The stock is also a favorite of Steve Eisman, a portfolio manager famous for betting against subprime mortgages before the financial crisis. Eisman, who was a central figure in Michael Lewis’ “Big Short” book that later became a movie, usually takes short positions but went long on Motorola Solutions.
Originally published at CNBC