European equities offer relatively low cross-region valuations alongside excellent fundamentals across infrastructure, aerospace, space and defense, financials and other industrial segments. This is the most bullish outlook on the region since after Liberation Day last year. Ferrovial, Societe Generale, RWE, OHB, BNP Paribas and Nexans are named as expressions of that view. x.com 

Raiffeisen Bank International's Rasperia judgment could unlock a substantial cash return. About €3bn in Strabag shares may transfer in early 2027 against its €3.15bn judgment. Management says the roughly €9 a share on a €55 stock could be paid as a special dividend. Its CEO aims for 'much more' than 13% ROE; with enforcement, cost cuts and less Russia exposure, the stock could exceed €80. Shares trade at 0.8x book; the February 2027 CMD could bring new long-term ROTE targets. x.com  x.com  x.com  … Show more

European banks are a structural re-rate of an industry priced like a casino that can trade like a utility. They trade at 8.5x earnings with a 6% dividend yield plus 3% buybacks, and 1.4x tangible book for an expected 16% return on tangible equity, and have beaten the Nasdaq-100 for five years. Cost control, capital returns and steady management run across the sector; Monte dei Paschi, BBVA and ABN AMRO are one trade. A Russia-Ukraine resolution, possibly soon, would lift Europe and Raiffeisen. … Show more

European banks could see an incredible long-term market-cap rerating as AI cuts expensive business lines. They trade below book value and have substantial distribution to captive customers; Barclays' announced AI-linked job cuts illustrate the cost opportunity. x.com 

Goldman Sachs's meager roughly 4.8% implied earnings move and past positive reactions make a relief bounce plausible after a 25% slide. Long seen as a top-tier bank, it is among its peers' worst performers this year; shares rose after 8 of its last 11 earnings reports, including a 9% jump last time that doubled the implied move. Earnings are Tuesday before the open. x.com 

Independent Bank Corp. looks cheap against its earnings. The holding company for Rockland Trust trades at 14x trailing earnings and about 10x next year's, while banks usually get 12x. Fair value is $87.09 to $110.84, based on 12x next year's forecast $8.25 a share, give or take 12%, so the stock sits 9% below the low end of fair. It would be expensive above $89.28. The call leans on the forecast, which is 48% above trailing earnings, and is based on levels only, not fundamental work. x.com 

FB Financial looks cheap against its earnings, at 10x next year's versus the 12x banks usually get. Fair value runs $54.44 to $69.28, or 12x next year's $5.16 a share give or take 12%, against $52.58, and it turns expensive above $60.48. The read leans on the forecast, with forward earnings 36% above trailing. This is a levels-only read from reported estimates, with no fundamental work. x.com 

Truist Financial looks cheap against its earnings at 9x next year's estimate, versus the roughly 12x banks usually get. Applying 12x to next year's $4.99 EPS, give or take 12%, gives a fair value of $52.71-$67.08, leaving the $45.58 share price 14% below the low end. x.com 

The big six US banks should report great Q2 results as the front line of a solid economy. Net interest income, fee growth, steady credit trends and capital levels all look supportive, and valuations remain cheap, leaving opportunities to add. x.com 

Citizens Financial looks cheap against its earnings, at 14x trailing and 10x next year's when banks usually get 12x. Fair value is $69.04-$87.87, or 12x next year's $6.54 EPS give or take 12%, so at $63.07 it trades 9% below the low end; it gets expensive above $73.44. The view leans on forecasts, with forward earnings 42% above trailing, and is levels only, with no fundamental work. x.com