US software companies appear to be overvalued compared with their European rivals, says Marc Geall, ...
US software companies appear to be overvalued compared with their European rivals, says Marc Geall, analyst at Schroder-Salomon Smith Barney. He believes the majority of European software stocks are now trading at a discount to their US peers, contrasting with the period just before the technology downturn when they reached a premium. Geall says: 'With valuations having fallen further than those in the US, the opportunity exists to buy European names at a discount to their US peers without having to pay the European scarcity premium that was in place before. 'Another scenario, however...
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