Strategists are blowing their alpenhorns about the opportunity in Swiss stocks. The alpine country’s shares are changing hands below their typical premium, the Swiss franc appears poised to slide further against the euro, and earnings growth looks good. UBS strategists rank Switzerland as the No. 1 European market for investors, based on factors such as cheaper-than-normal valuations, profit-recovery potential, and dividend yield. And a recent client note from a Morgan Stanley team declares: “We have decided to make an overweight stance on Switzerland one of our key recommendations for the start of 2018.” Switzerland’s market trades at a roughly 16% premium to Europe’s overall, according to Morgan Stanley, which looks at metrics such as price-to-earnings ratios and price-to-book values. That is “modestly below its long-run average, and hence provides no impediment to outperformance,” says the bank’s equity strategy team, led by Graham Secker. The Swiss franc looks likely to weaken more, thanks in part to the Swiss National Bank’s sticking to accommodative policies, while other central banks tighten a bit. In addition to helping tourists in Zurich, that should lift Swiss multinational companies, which generate considerable sales in euros, dollars, and other currencies, then convert them into francs. Watch maker Swatch UHR, +0.17% , for example, gets only 10% of its revenue from its home country, according to FactSet.via