Goldman Strategists Cut European Stock Targets on US Tariff Threat
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Goldman Sachs Group Inc. strategists cut their targets on European stocks due to the expected hit from President Donald Trump’s tariffs, making a contrarian bet at a time when the region has beaten US peers by a record.
The team led by Sharon Bell now expects the Stoxx Europe 600 Index to trade at 510 points in three months, compared with their previous estimate of 560, as they assume US levies would be higher than anticipated. The new target implies a drop of 4.5% from Monday’s close.