European Top Picks For 2025

Investment Thesis

Despite recent market volatility and underperformance versus the US this year, European equities' valuations and positioning are already depressed, and this could usher in some rebound once tariff risks, earnings risks and geopolitical risks are digested.

While the cloud of uncertainty could persist for a while, the potential for upside outweighs the potential for additional downside, especially for longer term investors.

We therefore continue to see significant opportunities for stock pickers.

Here are the 2025 European top picks from Morgan Stanley and JPMorgan.

Enjoy the reading and Merry Christmas!

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