Top of the Street: Demant, Equinor, Daimler Truck, UMG, Ariston

Ariston Holding

04/01/2022 12:57

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** JP Morgan upgrades Danish hearing aid maker Demant
 DEMANT.CO  to "neutral" from "underweight", saying the concerns
it held going into 2021 have been lifted with a more positive
view on the hearing aid sub-sector as a whole  urn:newsml:reuters.com:*:nL8N2TK0XO
    ** Bernstein cuts Equinor  EQNR.OL  to "market-perform" from
"outperform" on low mobility exposure, richest valuation in the
sector, lowest EPS and CFPS growth and lowest FCF yields
 urn:newsml:reuters.com:*:nL8N2TK1WH
  
    INITIATIONS AND REINSTATEMENTS
    ** RBC initiates coverage of Daimler Truck  DTGGe.DE  with
"outperform" rating, seeing the heavy truck & bus spinoff of
German carmaker Daimler  DAIGn.DE  "poised for a dramatic margin
recovery at its European and Asian operations"  urn:newsml:reuters.com:*:nL8N2TK1GV
    ** Jefferies starts Universal Music Group  UMG.AS  with a
"buy" rating as it sees strong near- and long-term growth
potential for the company driven by digital streaming and
emerging platforms  urn:newsml:reuters.com:*:nL8N2TK0O2
    ** Goldman Sachs initiates Italian heating solutions group
Ariston Holding NV  ARIS.MI  with "buy", seeing a 7.7% organic
sales growth rate over 2021-25, with low- to mid-single digit
market growth supported by decarbonisation trends, building
efficiency improvements, and favorable construction activity
 urn:newsml:reuters.com:*:nL8N2TK1O3
    ** BofA Global Research also starts Ariston with "buy",
saying its portfolio is well positioned towards high efficiency
products, capturing key market trends and driving mix benefits
alongside increased service demand, with potential M&A to
further augment earnings growth
    
    
(*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 Jagoda Darlak in Gdansk)
 ((jagoda.darlak@tr.com))