Top of the Street: UK grocers, Shell, BPER, Burberry, Technoprobe, Interpump

Burberry

18/05/2026 13:19

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

** HSBC raises Shell SHEL.L to "buy" from "hold", as it updates its view on global integrated oil stocks to reflect a "higher-for-longer" commodity backdrop due to the duration of the Middle East disruption

** Deutsche Bank cuts BPER Banca EMII.MI to "hold" from "buy", seeing a lack of catalysts at least until the Italian bank's business plan update in August

** Morgan Stanley upgrades British luxury brand Burberry BRBY.L to "overweight" from "equal weight", calling the share pullback an "opportunistic entry-point" for the "best-dressed recovery" story

**BofA Global Research upgrades Italian tech firm Technoprobe TPRO.MI to "buy" from "neutral" and names the "advanced probe card champion" as its SMID top pick, citing its continued market dominance

** Kepler Cheuvreux upgrades Italian manufacturer Interpump Group ITPG.MI to "buy" from "hold", saying good value has been restored following a 9% "overreaction" drop in the shares

INITIATIONS AND REINSTATEMENTS

** Morgan Stanley initiates coverage of UK supermarket group Tesco TSCO.L with "overweight", naming it a top pick as the grocery sector shifts from a price battle into an "ecosystem war"

** The same broker also initiates British retailer Marks and Spencer MKS.L with an "overweight" rating, citing a compelling long-term recovery opportunity driven by market share gains across food and clothing

** MS also initiates UK grocer Sainsbury's SBRY.L with an "equal weight" rating, saying that despite solid execution, its operating leverage and group returns will likely be capped by an Argos drag

(*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 Athina Karolidou and Marta Frąckowiak)

((Athina.Karolidou@thomsonreuters.com))