As concerns swirl about lofty valuations in the stock market and investors focus on AI companies, strategists at Berenberg see one sector as a relative bargain: energy. The global energy sector is trading around record low valuations relative to the broader market, according to the German investment bank.
"The European energy sector has never been this cheap on trailing price/book multiples, both on an absolute and relative basis," the bank said. For investors looking to increase their energy exposure, Berenberg named five stocks — Shell , TotalEnergies , Harbour Energy , Saipem , and Energean — as their "top picks." All five stocks are traded in the U.S. over the counter or on an exchange as dual-listed shares.
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