Top of the Street: Handelsbanken, Arkema, Zealand Pharma, SOBI, Argenx

argenx SE

08/07/2025 13:21

A round-up of notable broker activity this morning from Europe's top-ranked* analysts:

** Morgan Stanley cuts Swedish bank Handelsbanken SHBa.ST to "underweight" from "equal weight" citing softening net interest income, completed cost initiatives and a Q1 buffer release

** Barclays cuts French specialty chemicals maker Arkema AKE.PA to "equal-weight" from "overweight", expects large FY25 guidance cut on weak demand amid still-looming tariffs and uncertain acrylic segment profitability

** Deutsche Bank remains cautious about the EU pharma sector, expecting "the sector malaise" to persist due to political headwinds in the U.S., saying "things have got a little slipperier" for the sector's outlook, though there may also be opportunities

** The broker raises pharmaceutical firm Swedish Orphan Biovitrum SOBIV.ST to "hold" from "sell" and raises Netherlands based pharmaceutical firm Argenx ARGX.BR to "buy" from "hold"

INITIATIONS AND REINSTATEMENTS

** Barclays initiates coverage of Danish drug maker Zealand Pharma ZELA.CO with "overweight", seeing the stock's current levels as an attractive entry point for investors

(*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 Joao Manuel Mauricio, Anna Chaberska)

 ((Anna.chaberska@thomsonreuters.com))