Europe Analysts Skeptical of Stock Market Rally, Citigroup Says
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The best start for European equities in 17 years has left at least one group unconvinced: stock analysts.
Those assessing the region’s companies are the most cautious in 25 years, according to Citigroup Inc. While their ratings have historically tracked the Stoxx Europe 600 Index, the current gap between their average recommendations and the gauge’s level has never been wider, according to Jonathan Stubbs, head of European and U.K. equity strategy at Citigroup.