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Goldman to JPMorgan Slash European Stock Targets as Risks Mount

  • Upside seen from current levels, but flat return for the year
  • Stoxx 600 seen ending year at 488 points in monthly survey

Strategists are cutting their targets for European equity markets this year, with the region’s benchmark now seen ending 2022 flat as risks from the war in Ukraine, soaring commodity prices and central-bank tightening pile up.

The Stoxx Europe 600 Index will be little changed for the year by the end of December, at 488 index points, according to the average of 16 forecasts in Bloomberg’s monthly survey. That implies about 12% upside from Monday’s close, after a selloff that wiped as much as 2.4 trillion euros in value ($2.6 trillion) from the region’s benchmark this year.