Morningstar identifies two new 4-star European stocks: National Grid and Telefónica. The Morningstar Europe Index rose 5.68% in the past month, with 35% of Europe-listed stocks undervalued. National Grid gained 3.13% and Telefónica lost 5.78%. National Grid has a fair value estimate of GBX 1,220, while Telefónica’s is EUR 4.20 with a high Uncertainty Rating.

Read more at Morningstar: 2 Newly Undervalued Stocks this Month