Is the Selloff in European Lenders Really Overdone?: Chartby
European banks have suffered the most during this year’s stock rout, and Credit Suisse Group AG says the selloff is overdone. Valuations would tend to support that: the region’s lenders trade at record lows relative to the Euro Stoxx 50 Index. What’s more, while analysts have cut their estimates for 2016 earnings growth at companies in the region, they’ve raised them for banks, projecting profits will climb 6.4 percent, up from 2.7 percent at the beginning of December.