Goldman Strategists See Stronger US Consumers Boosting Luxury Stocks
- Strategists upgrade consumer-products sector to overweight
- Raise year-end target for the Stoxx 600 on improving economy
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Europe’s luxury stocks are set for a revival at a time when inflation is cooling, wages remain elevated and US consumers have more cash to spend, according to Goldman Sachs Group Inc. strategists.
The team led by Sharon Bell upgraded their rating on regional consumer products and services to overweight from neutral, as they also expect abundant natural gas supplies to cut energy prices and provide an additional tailwind.