Morgan Stanley Strategists Join Herd of Bulls for Europe Stocks By Bloomberg – Investing.com

Morgan Stanley Strategists Join Herd of Bulls for Europe Stocks By Bloomberg – Investing.com

(Bloomberg) -- Morgan Stanley strategists are the latest voice on Wall Street to join the ranks of European stock market bulls.

Estimates in the region and in Japan “look low, while valuations are undemanding,” the strategists led by Andrew Sheets wrote in a global cross-asset note. U.S. investors “should skew defensive,” they said.

The optimistic outlook echoes similar calls by Goldman Sachs. strategists, who said earlier this week that European stocks are less sensitive to rising rates, and more attractively valued. Peers at Citi and Julius Baer concurred, hinting at better times for the region’s equities after years of underperformance versus the U.S.