Shopping carts outside a Carrefour SA hypermarket in Avignon, France, on Friday, Jan. 15, 2021.
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Goldman Sachs is expecting a strong rebound in European stocks as Covid-19 vaccines are distributed, giving investors a chance to cash in on a region its analysts say is cheaper than the U.S.
“Europe remains at a sharp discount to the U.S. market,” analysts led by Sharon Bell said in a note Monday. “The Euro area will rebound sharply into the summer.”
In the note entitled “What to buy as Europe catches up,” the analysts advised investors to go “long” on Goldman’s Domestic Euro area basket of stocks, meaning they expect it to rise in value.
Here are some of Goldman’s top stock picks: