UBS Sees One Defensive Winner in Shaky Market

This article first appeared on GuruFocus. Coca-Cola (NYSE:KO) is emerging as a preferred defensive trade as rising bond yields and falling equities shake markets, with UBS naming the beverage giant its top pick in the beverage, household and personal-care group. The call gives investors a different way to approach volatility: rather than trying to time the market, UBS favors Coca-Cola's predictable earnings and dividend, even after the stock's nearly 30% rally this year. Is KO fairly valued? Tes…