J.P. Morgan Analyst Upgrades European Stock Target

BlockBeats News, June 29th. Amid the Iran war weighing on European stock markets, JPMorgan's analyst Mislav Matejka expects the downturn to be temporary. Now, he has further increased his bullish bet, becoming the most optimistic bull in Bloomberg-tracked forecasters.

Matejka and his team have raised their year-end target for the STOXX Europe 600 Index from 630 points to 680 points, implying a further upside of about 7% from the current levels. This new forecast surpasses the previous highest expectations of 670 points set earlier this month by Barclays and HSBC Holdings.

These strategists wrote in a report: "After three years of growth stagnation, euro area corporate earnings are accelerating this year." They forecast earnings per share to increase by 18% in 2026 and 12% in 2027. "If the market rally in the second half of the year can broaden out, European equities might once again become a very compelling investment opportunity."