Europe: Portfolio Strategy - Strategy Matters - Why the market has further to rise  (英文)

With the market up 50% from lows, many question the potential from here. As we move from a 2nd derivative improvement in activity to a 1st, we expect slower returns. But based on recent GDP revisions and higher earnings forecasts, we upgrade our DJ Stoxx 600 year-end target to 260 (from 235) and maintain a cyclical bias.

>> Europe: Portfolio Strategy - Strategy Matters - Why the market has further to rise  September 3, 2009 [PDF, 286 KB]