(Reuters) – J.P. Morgan analysts raised their rating on U.S. stocks to “neutral” on Monday, saying they expected equity markets globally to consolidate from current levels, while not ruling out more weakness.
“… As the virus impact and the activity/policy response are the dominant drivers now, we add back to the US weight, moving it to Neutral,” Mislav Matejka said in a note.
Matejka also reduced his rating on Eurozone stocks to “neutral” from “overweight”.
Reporting by Tanvi Mehta in Bengaluru; Editing by Anil D’Silva
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