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Barclays names three global stocks to buy for the next quarter, giving them major upside

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The Wall Street bank's strategists said they have a 'high conviction' on the stocks, which are also traded in the U.S.

Barclays has named three European stocks — Smurfit Kappa , Leroy Seafood and Raiffeisen Bank — for investors to consider buying for the upcoming quarter. The Wall Street bank's strategists said they have a "high conviction" on the stocks since the "risk-adjusted returns are attractive" for these companies. All three stocks are also traded in the U.S. The investment bank compiled a list of 20 European small and mid-cap stocks, offering an average upside potential of 26%.

Barclays expects shares to rise by 22% to 58 Norwegian Kroner over the next 12 months. The investment bank expects a meaningful recovery for the company in 2024, driven by a normalization of fishing volumes after "biological challenges in 2023". The bank also pointed out that the company will improve margins by using a new "submerged" cage technology for fishing.

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