European equities are drawing a broadly bullish consensus in recent third-party research, with several published views overweight the region on both near-term and cyclical horizons.
The cyclical case, as one strand of research argues, rests on a major capex wave across defense, data centers, and electrification, reinforced by German fiscal stimulus and expected double-digit corporate earnings growth this year — a shift said to be pulling US alternative asset managers into the region. A more cautious camp of analysts frames Europe as the cycle's laggard but "not out of the game," pointing to Germany's policy pivot on defense and energy spending as a late but real catalyst. A more tactical thread argues for an overweight into earnings season, positioning it as a deliberate rotation out of emerging markets and Asia.
Within that, European banks are called out as a continued overweight on tactical value. On single names, published notes flag Airbus as a DAX tailwind after an upbeat 2029 profit target and buyback, and describe TotalEnergies as a long-term structural story on LNG demand and cost discipline.