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JPM raises euro zone stocks to "overweight", sees bounce back

Published 09/30/2019, 03:15 PM
Updated 09/30/2019, 03:20 PM
JPM raises euro zone stocks to "overweight", sees bounce back

LONDON, Sept 30 (Reuters) - JPMorgan raised its rating on
euro zone equities to "overweight" on Monday, reversing its
longstanding preference for U.S. equities, saying the bloc's
battered stocks have been under owned and predicting an
opportunity for them to bounce back.
The bank said it would fund the bullish call on euro zone
stocks with funding from the U.S., which is being cut to
"neutral".
"We now believe that there is an opportunity for Eurozone to
bounce back," lead equity strategist Mislav Matejka said, adding
that current valuation levels present "a good entry point".

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