Top of the Street: Amundi, Coca-Cola HBC, Persimmon, Aumovio
BUZZ-Top of the Street: Amundi, Coca-Cola HBC, Persimmon, Aumovio A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** Deutsche Bank downgrades Europe's largest asset manager Amundi AMUN.PA to "hold" from "buy" despite hiking its price target by 20%, seeing limited further share gains and citing caution over the earnings impact from UniCredit-related assets under management outflows
** BNP Paribas cuts bottler Coca-Cola HBC CCH.L to "neutral" from "outperform" based on a less compelling risk-reward after a strong run, potential Russian asset seizure/cash-tax risks and headwinds from costs, FX and tough year-ago comparisons
** Deutsche Bank raises homebuilder Persimmon PSN.L to "buy" from "hold", citing recent share price weakness and saying the company is "actively managing market headwinds" in the sector through self-help initiatives and top-line growth
** Bernstein ups German auto supplier Aumovio AMV0n.DE to "outperform" from "market-perform", seeing the company's Q2 results from last week as a "clearing event" for the stock and highlighting an earnings upside from self-help measures
(*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 Olivier Cherfan and Amir Orusov)