Top of the Street: Thales, Neste, Delivery Hero

Basic-Fit

16/02/2022 13:00

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Morgan Stanley upgrades French defence and technology
group Thales  TCFP.PA  to "overweight" from "equal-weight"
citing the group's fundamentals and adds that it is
well-positioned to benefit from France's increased defence
budget
    ** UBS raises Finnish oil refiner and biofuel producer Neste
 NESTE.HE  to "buy" from "neutral" seeing a recovery in the
company's renewable products' margins due to less direct
competition for feedstocks and a "tight European market" with
tariffs and logistics that makes it difficult for US producers
to reach
    ** Deutsche Bank cuts German online takeaway food company
Delivery Hero  DHER.DE  to "hold" from "buy" citing limited
visibility on the refinancing of its convertible bonds and risk
of a capital raise  urn:newsml:reuters.com:*:nL8N2UR1T1
    
    INITIATIONS AND REINSTATEMENTS
    
    ** Jefferies initiates Dutch discount gym chain Basic Fit
 BFIT.AS  and Britain's Gym Group  GYM.L  with "buy", saying
heightened interest in health and post-COVID wellbeing fuels a
growing market for gyms, especially for value operators
 urn:newsml:reuters.com:*:nL8N2UR2AQ
    
(*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 Antonis Pothitos and Diana Mandiá)
 ((antonis.pothitos@thomsonreuters.com ;
diana.mandiaalvarez@thomsonreuters.com))