eyeQ: Shell, JP Morgan, Goldman Sachs, Prosus
Experts at eyeQ use AI and their own smart machine to generate actionable trading signals for 10 UK shares and 10 overseas stocks. All are either cheap or expensive given current macro conditions.
26th May 2026 09:34
by Huw Roberts from eyeQ
“Our signals are crafted through macro-valuation, trend analysis, and meticulous back-testing. This combination ensures a comprehensive evaluation of an asset's value, market conditions, and historical performance.” eyeQ
- Discover: eyeQ analysis explained | eyeQ: our smart machine in action | Glossary
This series of weekly articles uses eyeQ’s smart machine to highlight 10 stocks whose share price trades at either a discount or premium to eyeQ’s Model Value price (where macro conditions say the share 'should' trade).
A minus figure in these tables indicates a share trading below eyeQ’s Model Value, implying they are ‘cheap’ versus macro conditions. A plus figure screens as rich because the current share price is above eyeQ’s Model Value.
All companies must have a model relevance above 65%, which means the macro environment is critical and any valuation signals carry strong weight.
Here are definitions of terms used in the analysis:
Model value
Where our smart machine calculates that any stock market index, single stock or exchange-traded fund (ETF) should be priced (the fair value) given the overall macroeconomic environment.
Model relevance
How confident we are in the model value. The higher the number the better! Above 65% means the macro environment is critical, so any valuation signals carry strong weight. Below 65%, we deem that something other than macro is driving the price.
Fair Value Gap (FVG)
The difference between our model value (fair value) and where the price currently is. A positive Fair Value Gap means the security is above the model value, which we refer to as “rich”. A negative FVG means that it's cheap. The bigger the FVG, the bigger the dislocation and therefore a better entry level for trades.
Long Term model
This model looks at share prices over the last 12 months, captures the company’s relationship with growth, inflation, currency shifts, central bank policy etc and calculates our key results - model value, model relevance, Fair Value Gap.
UK Top 10
| Company | Macro Relevance | Model Value | Fair Value Gap |
| St James's Place | 73 | 1271.80p | -5.15% |
| Shell | 72 | 3295.34p | -2.67% |
| Barclays | 88 | 455.41p | -1.98% |
| Burberry Group | 80 | 1134.47p | -0.89% |
| Smiths Group | 66 | 2509.90p | -0.48% |
| easyJet | 74 | 356.63p | 1.97% |
| Standard Chartered | 78 | 1894.48p | 2.77% |
| Associated British Foods | 68 | 1725.62p | 6.01% |
| JD Sports Fashion | 66 | 71.48p | 7.93% |
| Entain | 67 | 425.12p | 21.27% |
Source: eyeQ. Long Term strategic models. Data correct as at 22 May 2026.
International Top 10
| Company | Macro Relevance | Model Value | Fair Value Gap |
| JPMorgan Chase & Co | 81 | 308.42 | -0.66% |
| Nike Inc Class B | 77 | 44.93 | -0.58% |
| Meta Platforms Inc Class A | 85 | 613.28 | -0.49% |
| Prologis Inc | 65 | 146.27 | -0.25% |
| Essilorluxottica | 66 | 173.51 | -0.15% |
| Stryker Corp | 75 | 302.37 | 4.46% |
| Morgan Stanley | 82 | 191.82 | 4.58% |
| The Goldman Sachs Group Inc | 75 | 944.76 | 5.24% |
| Hims & Hers Health Inc Ordinary Shares - Class A | 65 | 22.33 | 5.90% |
| Prosus NV Ordinary Shares - Class N | 79 | 35.54 | 9.01% |
Source: eyeQ. Long Term strategic models. Data correct as at 22 May 2026.
JP Morgan vs Goldman Sachs
Two banking giants with very different macro pictures.
JPMorgan Chase & Co has bounced modestly since our smart machine fired a bullish signal mid-May. The fair value gap has effectively closed now and, with eyeQ model value moving sideways, there’s no strong macro story for the stock right now.
The Goldman Sachs Group Inc model fair value is trending higher, so macro provides a more positive backdrop. However, the stock has run well ahead of that and now screens as 5.2% rich. Not quite enough to trigger a bearish signal but not the best entry levels from a macro perspective.
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Disclosure
We use a combination of fundamental and technical analysis in forming our view as to the valuation and prospects of an investment. Where relevant we have set out those particular matters we think are important in the above article, but further detail can be found here.
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