Top of the Street: Galp, Reckitt, Legrand, Biomerieux

Biomerieux SA

23/04/2024 10:41

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    **  Morgan Stanley upgrades Portugal's Galp  GALP.LS  to
"equal-weight" from "underweight", saying its call on Galp has
been unsuccessful as the Namibia exploration campaign results
have consistently exceeded assumptions
    ** Jefferies ups Reckitt  RKT.L  to "hold" from
"underperform" as they expect the Enfamil maker to be more
supported in H2, when the group will be taking ownership of what
is already now expected: visibility on settling legal liability
and investment plans 
    ** Goldman Sachs upgrades French electrical equipment maker
Legrand  LEGD.PA  to "buy" from "neutral", citing the group's
highest exposure to data centers as a growth driver in the
medium term and an opportunity to buy the stock
    
    INITIATIONS AND REINSTATEMENTS
    ** Deutsche Bank starts coverage of French diagnostics
specialist Biomerieux  BIOX.PA  with "buy" rating, citing the
company's class-leading earnings growth, its leadership in
attractive niche, rich product pipeline, and its high quality
management team

    
(*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 Federica Urso, Jakub Olesiuk)
 ((Federica.urso@tr.com))