1216 GMT - JP Morgan prefers European investment banks in the long term compared with their U.S. counterparts. Though shares in U.S. banks have justifiably risen after the election on expectations of stability in the regulatory environment and anticipated investment banking activity, the market seems to have already priced in potential positive moves by the new administration in their valuations of U.S. lenders but not in that of European ones, analysts write. "We see this momentum continuing near-term, also supported by a good trading environment in Equities and also in Credit in 4Q so far," they say. European investment banks also stand to benefit from client activity levels improving. The broker's top picks are Deutsche Bank, UBS and Barclays and prefers banks geared to non-net interest income. JP Morgan has an overweight rating on the global investment bank sector. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
November 14, 2024 07:16 ET (12:16 GMT)
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