JPMorgan analysts raise target for European stocks

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BlockBeats News, June 29 – As the war in Iran hits European stock markets, JPMorgan analyst Mislav Matejka expects the decline to be temporary. Now, he is further increasing his bullish stance, becoming the most optimistic bull among the forecasters tracked by Bloomberg.

Matejka and his team raised their year-end target for the Euro Stoxx 600 index from 630 points to 680 points, implying that the index still has about 7% upside from current levels. This new forecast surpasses the highest expectation of 670 points set earlier this month by Barclays and HSBC Holdings.

"After three years of stagnant growth, eurozone corporate earnings growth is accelerating this year," the strategists wrote in a report. They forecast earnings per share growth of 18% and 12% in 2026 and 2027, respectively. "If the market rally broadens in the second half of the year, European stocks could once again become a highly attractive investment target."

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