JP Morgan has expressed confidence in the Greek stock market, upgrading its investment outlook for Greece to “overweight” from “neutral.”
The move by the U.S. investment firm signals heightened optimism about the Greek market’s prospects, as it believes Greek stocks now offer greater potential for outperformance compared to the other markets it covers.
The upgrade comes at a time when the Greek economy continues to post strong growth rates compared to the eurozone average, while the improvement in public finances, the improvement in the country’s credit profile, and the positive performance of listed companies are reinforcing the investment narrative, in conjunction with the Greek market’s upgrade to developed status.
At the same time, Greek banks continue to attract the interest of international investors, thanks to their improved profitability, strong capital position, and attractive valuations, while the outlook remains positive for other sectors of the economy that are benefiting from increased investment and tourism.