Top of the Street: Porsche, BASF, Swisscom
BUZZ-Top of the Street: Porsche, BASF, Swisscom A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** Goldman Sachs raises Porsche AG P911_p.DE to "buy" from "neutral", expecting the luxury carmaker's mix normalization and indirect cost reduction to offset near-term headwinds ahead of its Capital Markets Day in the autumn
** Kepler Chevreux raises German chemicals company BASF BASFn.DE to "buy" from "hold" on strong expected Q2 momentum as supply disruptions boost pricing, alongside its resilient positioning in catalysts and core chemical markets
REINSTATEMENTS
** Morgan Stanley resumes coverage of Swisscom SCMN.S with "underweight", compared with "overweight" previously, citing challenges in its key markets and saying valuation implies overly optimistic dividend growth after a strong share rally over the past year
(*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 and Athina Karolidou)
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