JPMorgan uncovered several top European stocks it says offer substantial upside potential — as well as some “unattractive” names — right now. In a Feb. 19 note, the investment bank said U.S. stocks are “ahead of international,” growth stocks have been “outperforming” value names and large-cap stocks are “again beating” small ones. Growth stocks are those expected to grow sales at a higher rate than the market average. The analysts, led by Mislav Matejka, reiterated their preference for U.S. stocks over international ones, saying they “don’t see that changing yet.” The bank is underweight on the euro zone, given that its “Growth-Policy trade-off” is “likely to deteriorate further.” Nevertheless, JPMorgan sees pockets of opportunity in the European market. Here are five stocks from its list of “top European picks” which stand out for having substantial upside potential, according to FactSet’s consensus price targets: ‘Unattractive stocks’ JPMorgan also revealed its list of “unattractive stocks” from a sector it’s underweight on — banking. “Bond yields direction is one of the key drivers of Banks’ fortunes, as the sector is generally a barometer between deflation and reflation,” the analysts said, noting that banks performed well over the past three years as interest rates rose. They added that bond yields have “likely peaked.” Stocks named as ” unattractive” include Lloyds Banking Group , BNP Paribas , Svenska Handelsbanken AB and Bank of Ireland Group . — CNBC’s Michael Bloom contributed to this report.
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