European equity around fair value, won’t change by end of year – UBS

UBS’s Europe strategists stick to their Stoxx 600 340 points target by year-end and provide a useful table of the underlying fundamentals/valuation factors. The following table illustrates where market would be if you change either 2017 EPS earnings growth and 12month forward P/E ratio. Bottom line: if you are cautious right now, don’t touch European equities.

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