Strategists Ditch Optimism for European Stocks on Trade War Risk
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A month after chasing the market with multiple upgrades for European stocks, strategists are back to cutting their targets, spooked by volatility and trade tensions.
About a third of the 17 strategists in a monthly Bloomberg survey lowered their year-end targets in April. While the average estimate still sees the Stoxx Europe 600 Index rising to 546 points by end-year — a 6.4% increase from Wednesday’s close — professionals are turning cautious given the twists and turns of US policy.