The Morning Filter 3 International Stocks to Buy for 2026
10 snips
Feb 5, 2026 
Michael Field, Morningstar’s chief Europe markets strategist, briefly outlines Europe-focused opportunities. He talks market outlook and rising uncertainty despite improving macro data. He highlights attractive countries and sectors, plus value in European small caps. He finishes with three long-term stock picks: SAP, Diageo, and GSK.
AI Snips
Chapters
Transcript
Episode notes
Europe Appears Fairly Valued
- European equities are broadly fairly valued versus Morningstar fair value estimates today.
- Fair valuation differs from overvaluation, so equities are not expensive overall.
Diversify Into Europe Intentionally
- Stay invested in Europe for diversification even if headline markets look fairly valued.
- Seek specific sectors and styles that offer more attractive upside.
Valuations Vary By Country
- Country-level valuations vary significantly across Europe with unexpected opportunities.
- Germany, the U.K., the Netherlands, and Denmark currently look relatively attractive.