Top of the Street: oil, Novo Nordisk, Acciona, Diageo, WPP
02/03/2026 12:53
A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** JP Morgan raises Italian Eni ENI.MI to "overweight" from "underweight" and French oil major TotalEnergies TTEF.PA to "overweight" from "neutral" as shares of major European oil and gas companies soar as the conflict in the Middle East escalates ** Goldman Sachs cuts "a show-me story" Danish drugmaker Novo Nordisk NOVOb.CO to "neutral" from "buy" after disappointing REDEFINE-4 trial results and 2026 guidance, adding a Wegovy pill launch offers upside ** Kepler Cheuvreux cuts Spanish conglomerate Acciona ANA.MC to "reduce" from "hold" after February share rally as the company successfully executed its rebalancing strategy ** HSBC cuts Britain's spirits maker Diageo DGE.L to "hold" from "buy", flagging "complex structural, strategic, cultural, and operating problems" that will leave the stock likely struggling "until the U.S. works" ** Jefferies cuts UK utility firm Centrica CNA.L to "hold" from "buy" citing a lack of near-term catalysts along with near-term negative earnings revisions and limited visibility beyond 2028 ** Barclays raises British advertising firm WPP WPP.L to "equal-weight" from "underweight", viewing recent account wins as proof the firm is "not broken" but still flagging the need for organic momentum improvement ** Kepler Cheuvreux raises Dutch industrial technology firm Aalberts AALB.AS to "buy" from "hold", expecting earnings inflection in 2026 driven by the semiconductor market recovery (*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 Marta Serafinko and Marleen Kaesebier) ((Marta.serafinko@thomsonreuters.com; marleen.kaesebier@thomsonreuters.com))