The analysts at Deutsche Bank exhibit an optimistic sentiment for the upcoming earnings season in summer in Europe, which could indicate potential earnings surprises. While there is no explicit statement about a general earnings surprise, expectations for revenue and profit growth are positive: For the year 2025, for example, a revenue growth of about 11% and a profit increase of around 14% per share is forecast.
At the same time, the valuation of many European stocks remains attractive, underscored by price-to-earnings ratios close to five-year lows. This could positively impact stock prices if companies meet or exceed their forecasts.
Differentiated Assessments of Individual Companies
However, there are also differentiated assessments of individual companies: For example, Kepler Cheuvreux slightly downgraded its earnings forecasts following H&M’s interim report, but still sees opportunities for growth and margin improvements starting in 2026. Other analysts maintain neutral ratings due to existing uncertainties.
Overall, these signals suggest that the earnings season in summer in Europe may indeed bring positive surprises, which could favorably affect stock prices. Deutsche Bank seems to represent a rather optimistic perspective, even if certain sectors or companies should be viewed with caution.