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Buy Unilever and Las Vegas Sands, Causeway’s Ellen Lee Says

Tourists walk outside Venetian Macao resort and casino, operated by Sands China Ltd., a unit of Las Vegas Sands Corp., in Macau, China, in January 2020. 

Tourists walk outside Venetian Macao resort and casino, operated by Sands China Ltd., a unit of Las Vegas Sands Corp., in Macau, China, in January 2020. 

Photographer: Billy H.C. Kwok/Bloomberg

Unilever Plc and Las Vegas Sands Corp. are among stocks with upsides in the current bear market but for different reasons, according to Ellen Lee, a portfolio manager at Causeway Capital Management.

Las Vegas Sands is likely to benefit as China eases its Covid-19 lockdowns, which have thwarted travel to the firm’s casinos in Macau, Lee said Friday during an interview on Bloomberg Television’s “Wall Street Week.” Unilever, the consumer-products giant with brands including Ben & Jerry’s ice cream and Dove beauty products, is likely to improve earnings because activist investor Nelson Peltz joined the board and will spur a faster pace of boosting profitability, she said.