GlaxoSmithKline leads Charles Stanley's top stock picks for 2010, with the firm expecting companies with significant overseas operations to deliver strong risk-adjusted returns next year.
Charles Stanley says GSK's shares are undervalued and predicts changes introduced by the company's new group chief executive to deliver a dividend yield in excess of 5%. "New Group CEO Andrew Witty has implemented a series of bold initiatives aimed at reducing GlaxoSmithKline's historic dependence on blockbuster products such as Advair, Avandia and Paxil to a business built on greater long-term sustainability and wider geographical footprint," Charles Stanley says. In total, ten companies featuring in the top 2010 tips: Avanti Communications Group, Compass Group, Hikma Pharmaceuticals...
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