It yields 1.6 percent and sells at a comparable valuation of free cash flow.

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Many of these companies are trading at very high free cashflow yields, very low valuation.

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Citi also likes blue-chip stocks with free cash flow yields that are considered not especially risky due to the valuation in credit markets.

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It gets a perfect score on valuation, however, in part because of a big earnings yield and strong free cash flow.

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