Top of the Street: BBVA, Oerlikon, IMCD, Edenred

Banco Bilbao Vizcaya Argentaria SA

15/07/2026 13:12

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

** BoFa cuts Spain's bank BBVA BBVA.MC to "neutral" from "buy", says higher rates delay Türkiye normalization
** UBS raises Oerlikon OERL.S to "buy" from "neutral", citing stronger earnings recovery for the Swiss industrial group as industrial demand improves
** UBS ups Dutch chemicals distributor IMCD NV IMCD.AS to "buy" from "neutral", as a more inflationary backdrop could revive earnings growth

INITIATIONS AND REINSTATEMENTS
** Morgan Stanley assumes coverage of French vouchers and benefit cards provider Edenred EDEN.PA with "overweight" rating

(*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 Anastasiia Kozlova and Mateusz Rabiega)
 ((Anastasiia.Kozlova@thomsonreuters.com; Mateusz.Rabiega@thomsonreuters.com))