Europe stocks hit an all-time high “” and analysts say there’s more room to rise

Europe stocks hit an all-time high “” and analysts say there’s more room to rise

LONDON “” European stocks hit a fresh record high on Thursday, and analysts are confident there is further upside as prices remain low compared to the U.S.The pan-European Stoxx 600 hit a high of 438.29 on Thursday, surpassing levels seen in late February 2020, just before the region's stocks sold off as the coronavirus pandemic hit its nations hard. Thursday's move marks a more-than 55% jump from a pandemic low seen on March 18, 2020."The coming two years should be kind to euro area stocks," analysts at BCA research said in a note on Monday. They said this was partly because of expectations that borrowing costs will rise globally, making certain equities, such as financial stocks and beaten-down sectors, more attractive than bonds."Moreover, European equities are exceptionally cheap, which accentuates their appeal as a yield play," BCA analysts said.

J.P. Morgan analysts also said on Monday they see a 3% upside on Europe's Stoxx 600 this year. In late March, analysts at Bank of America went even further, estimating a 7% jump for the largest European index by the end of the summer."European equities are set to benefit from a sharp acceleration in euro area GDP (gross domestic product) growth over