Allstate Ranks Among S&P’s Top Stock Picks for 2001

In a recent chat with BusinessWeek Online and Standard & Poor’s on America Online, Kenneth A. Shea, vice president and director of Standard & Poor’s Equity Research & Services, presented a forecast for 2001.

Among Shea’s top five stock picks was property/casualty insurer, Allstate, which he said has been benefiting from improving pricing. Other top picks were BJ Services, JDS Uniphase, Philip Morris and Tenet Healthcare. Allstate ranked fourth out of the five choices. Further predictions included a slowdown, but no recession, for the economy; a slow-starting stock market, which will benefit in relation to improved corporate earnings and a continued ease on interest rates. Shea also recommended that investors go light on technology stocks.