People are set to spend billions saved during the coronavirus pandemic on vacations, autos and luxury goods, according to investment bank UBS, which has picked a raft of stocks that it believes will benefit from the trend.
Europeans and those in the U.K. have more than 700 billion euros ($857 billion) in "excess" savings, according to the bank's analysts in a note published Friday. And the amount Europeans will spend is expected to rise faster than in the U.S., they added.
UBS said the recovery in Europe and the U.K. is a "key investment theme" for this year, and its analysts see 50% growth in earnings-per-share for the regions' companies this year.
Some of the bank's stocks picks have a potential upside of 40% or more to its analysts' price target. Here 14 of its stocks to buy: