Business
Top of the Street: Gjensidige Forsikring, Elisa, CVC, Holcim, BMW, DHl, Nexans, Prysmian, Ayvens and Tate & Lyle
Top of the Street: Gjensidige Forsikring, Elisa, CVC, Holcim, BMW, DHl, Nexans, Prysmian, Ayvens and Tate & Lyle
About this update from Prysmian S.p.a.
A round-up of notable broker activity this morning from Europe's top-ranked* analysts:** Citigroup raises Norway-based insurance provider company Gjensidige Forsikring OSL:GJF to "neutral" from "sell", expecting pricing measures to improve profitability and seeing an improved market backdrop** It also raises Finland-based ICT services company Elisa OMXHEX:ELISA to "neutral" from "sell", seeing improvement in the MSR trend and limited near term catalysts that would drive underperformance** Barclays upgrades private markets manager company CVC Capital Partners EURONEXT:CVC to "overweight" from "equal-weight", noting its great exposure to the benefits of the Secondaries market** Morgan Stanley raises Switzerland-based cement maker Holcim SIX:HOLN to "overweight" from "equal weight," seeing an attractive bull case upside** Exane BNP Paribas cuts German automobile manufacturing company BMW XETR:BMW to "underperform" rating, as it expects near flat margins until 2028** UBS cuts German logistics company DHL XETR:DHL as the broker is sceptical on the tariff headwinds and mid-term Express volume growth potentialINITIATIONS AND REINSTATEMENTS** Deutsche Bank starts Italy's Prysmian MIL:PRY and France's Nexans EURONEXT:NEX with "buy" on strong earnings momentum for both cable maker firms, underpinned by structural electricity demand growth** UBS initiates French car leasing company Ayvens EURONEXT:AYV with "buy" as it has scope for turning into an outstanding capital return story** It also starts British food ingredients maker Tate & Lyle LSE:TATE with "neutral" as the brokerage expects limited upside to consensus estimates for FY26 and FY27(*Analyst rankings from Thomson Reuters StarMine. The scale is from 1-star to 5-star with 5 being the best. Analysts are ranked on earnings accuracy as well as relative performance of recommendations over trailing 12-month & 24-month periods.)