These stocks are the biggest winners with the generous Jubilee Budget

Transport plays and REITs should get a boost.

The lavish Jubilee Budget will give certain stocks a big boost. According to UBS, companies in the transport sector and REITs should emerge as the biggest winners thanks to the budget.

Transport sector stocks such as NOL, SIA, SMRT, ComfortDelGro, SingPost, and SATS should get a boost from lower oil prices and massive infrastructure spending, while REITs should also benefit from extended tax concessions.

“Initially, the direct uplift from lower electricity and wage costs to EPS could appear small, but we argue that cumulative effects over time could be more powerful (and exceed market expectations) as savings gradually make their way through each company's supply chain. Savings on overhead costs could drive mild (1-2%) uplift to DPU estimates. Meanwhile, with inflation concerns taking a backseat, more benign than expected outlook for US Fed rates and a sharp pull back in the SGS10Y bond yield should keep valuations supported,” UBS stated.

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