Top of the Street: UBS, Saint-Gobain, Sika, Bachem
18/06/2025 13:10
A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** Morgan Stanley downgrades UBS UBSG.S to "underweight" from "equal weight", citing uncertainties surrounding the Swiss bank's capital requirements INITIATIONS AND REINSTATEMENTS ** Goldman Sachs initiates French construction materials group Saint-Gobain SGOB.PA at "neutral", saying the shares have already priced in much of the upside potential ** The same broker starts Swiss industrial and construction chemicals company Sika SIKA.S with a "buy" rating, seeing Sika's top-line growing again due to new products and positive trends in the European market ** Berenberg initiates Bachem Holding BANB.S with a "buy" rating, citing the Swiss pharmaceutical company's strong position in the growing synthetic peptide market (*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 Marta Maciag in Gdansk; Editing by Vijay Kishore) ((antonis.pothitos@thomsonreuters.com; marta.maciag@thomsonreuters.com))