Commentary: Distributor stocks' defensive prowess puts them in Street's starting lineup

July 08, 2009 Nonetheless, investors bid up the two U.S. satellite TV stocks and nearly all cable stocks during the year's first half, and analysts continue to recommend the distribution sector thanks to its defensive characteristics. After all, a return to slight growth in the U.S. economy is not expected until the fourth quarter, and consumers will continue to suffer amid high unemployment well into next year. "Investors with a more defensive tilt should invest in pay TV," Goldman Sachs analyst Ingrid Chung said in a report last week.

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