Italy coach Antonio Conte believes his team has been placed in an evenly matched Group E for Euro 2016, but labeled Belgium as the favorite.

Conte's men have been drawn alongside the world's top-ranked side Belgium, Sweden and the Republic of Ireland in Group E for the finals in France.

The 1968 winners, who reached the final four years ago, only to lose 4-0 to Spain, will take on Belgium at the Stade des Lumieres in Lyon on June 13 before meeting Sweden in Toulouse and Ireland in Lille.

Belgium reached the quarterfinals of the last World Cup and lost only one game en route to topping its qualifying group.

And Conte said: "I think Belgium are an excellent team, and are among the favorites for the final stages. They have a young team, and a lot of top players in their ranks. Then I see pretty equal teams with Sweden, us and Ireland.

"We know all the strengths of [Sweden striker] Zlatan [Ibrahimovic]. And Ireland are certainly a team who play with a lot of emotion, and who are strong with their team spirit and great intensity. So we have to be careful."