Top of the Street: Carl Zeiss, Euronext, abrdn, EDPR, Vonovia

Aalberts

16/12/2021 13:27

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** HSBC says Carl Zeiss Meditec's  AFXG.DE  new product
launches, innovation-fuelled growth and the new CEO "deserve the
benefit of the doubt", and raises German medical technology firm
to "hold" from "reduce"
    ** HSBC ups Euronext  ENX.PA  to "buy" from "hold" as it
sees good risk-reward profile, noting its conservative targets
can be seen as the floor for any expectations as the European
stock exchange operator has a strong track record of
over-delivering  urn:newsml:reuters.com:*:nL8N2S02AZ
    ** RBC ups France's Sodexo  EXHO.PA  to "sector perform"
from "underperform" on potential food services reboot with
imminent new CEO  urn:newsml:reuters.com:*:nL8N2T11I0
    ** Deutsche Bank cuts British asset manager abrdn  ABDN.L 
to "hold" from "buy" as its proposed acquisition of Interactive
Investor highlights concerns around value and group targets
    
    INITIATIONS AND REINSTATEMENTS
    ** Credit Suisse starts "high-quality" pure-play renewables
business EDPR  EDPR.LS  with "neutral", pointing to its
already-priced-in pipeline growth and risks from new entrants
that may look to list renewables divisions
    ** CS prefers EDP  EDP.LS , which owns 75% of EDPR and
prices in three years of renewables growth compared with 10
years for pure-play EDPR 
    ** Barclays initiates Daimler Truck Holding  DTGGE.DE  with
"overweight"  urn:newsml:reuters.com:*:nL8N2T11JM
    ** Jefferies launches coverage of Allfunds  ALLFG.AS  with
"buy" seeing a significant opportunity for the to globalise its
business
    ** Berenberg starts Aalberts  AALB.AS  with "buy", saying
the Dutch manufacturer is set to benefit from attractive secular
trends as the pandemic recedes  urn:newsml:reuters.com:*:nL8N2T125J
    ** Deutsche Bank resumes coverage of German real estate
company Vonovia  VNAn.DE  with "buy" rating citing its
undervalued shares versus peers  urn:newsml:reuters.com:*:nL8N2T12JU
    ** Citigroup re-establishes coverage of Aroundtown  AT1.DE 
with "buy", citing improved sentiment around values and rents,
as well as  potential positive impact from share buyback, focus
on corporate governance and disclosure removing legacy concerns
    ** UBS starts Kingfisher  KGF.L  with "neutral" saying
British home improvement retailer is making progress to
accelerate growth but may to underperform expectations given
growing competition and its exposure to weaker-growth-profile
DYI
    
(*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.)


 (Reporting by Dagmarah Mackos, Anita Kobylinska)
 ((dagmarah.mackos@tr.com; anita.kobylinska@tr.com))