JPMorgan's Matejka Doubles Down as Most Bullish Europe Stocks Forecaster After Iran War Dip

The Quick Take

• JPMorgan strategist Mislav Matejka is now the biggest European equity bull among Bloomberg-tracked forecasters
• Matejka predicted the Iran war-driven European stock declines would be short-lived — and doubled down post-sell-off
• JPMorgan has raised its Europe stocks year-end target, making it the highest among major bank forecasters

JPMorgan Chase strategist Mislav Matejka has emerged as the most bullish European equity forecaster among all those tracked by Bloomberg after correctly calling the Iran conflict-driven selloff as a short-lived disruption and doubling down with a new, higher year-end price target for European stocks. Matejka's contrarian positioning during the Iran-related market dip — when regional equity benchmarks fell sharply on fears of energy market disruption and geopolitical contagion — has validated his thesis that European fundamentals were not structurally impaired by the conflict. JPMorgan now sits as the highest European equity target among major global investment banks.

For European equity investors, Matejka's reinforced bull call signals that JPMorgan's institutional clients are being positioned for a post-conflict recovery in European indices — specifically in defense, energy transition, and financial sectors where European companies have strong structural earnings momentum. The Iran war dip has been a forced de-risking event for many funds, creating entry points that JPMorgan is now flagging. Peer strategists at Goldman Sachs, Morgan Stanley, and UBS who held more cautious European targets now face pressure to revise upward or explain their relative conservatism. European equity flows may accelerate if the truce narrative solidifies.

Watch JPMorgan's next European strategy publication for updated sector allocation guidance — specifically whether Matejka's bullishness is concentrated in export-oriented DAX names, UK financials, or Eurozone consumer staples. The European Q2 earnings season data is the near-term fundamental test: if earnings revisions trend positive, the Matejka bull case gains rapid consensus. The macro variable is EUR/USD: a stronger euro driven by ECB hawkishness relative to Fed easing would reduce EPS translation effects for European multinationals with US revenue, capping upside to targets even if nominal European equity indices rise. Any Iran conflict re-escalation would be the most immediate downside catalyst.

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