“Even after the sharp selloff this year, equities are not yet priced for the continued loss in growth momentum we expect to see over the coming months,” said BofA strategist Milla Savova, who sees the Stoxx 600 closing at 380, near last month’s lows.
Savova expects earnings to slide 20% over the next year, dragged lower by margin pressure and slowing economic growth.
“We think the current resilience of European earnings will prove unsustainable,” she says.
For tables on the Euro Stoxx 50 and Stoxx 600 polls click here; for a table on the DAX poll click here, for a table on the FTSE 100 poll click here.
--With assistance from Sagarika Jaisinghani, Jan-Patrick Barnert and Tommaso Isak Rognoni.
This article was provided by Bloomberg News.