Portugal could be the "market of the year" to invest in, according to a strategist, as ratings agency Standard & Poor's (S&P) removed it from its downgrade danger list.
S&P retained Portugal's BB credit rating and removed it from the Creditwatch list, reserved for those countries being reviewed for an imminent downgrade.
But the country still remains two notches below investment grade.
Despite this, Chris Zwermann, global strategist at Zwermann Financial, told CNBC that the Portuguese stock market could see a 15 percent rally.
(Read more: Portugal 'confident' on May bailout exit)
"It's the market of the year because long term interest rates (are) going down because the situation is improving. On the technical (side), we see a very good chance of (the stock market) going around 15 percent higher from here," he said.
Last year, Portugal's PSI 20 saw a 15.5 percent rally.
Country on the up
Portugal was forced to ask for help from the International Monetary Fund and its fellow euro members when it struggled to borrow in the international bond markets. Investors pushed its borrowing costs above 7 percent, a level widely regarded as unsustainable, amid concerns over its high levels of debt.