Top of the Street: Umicore, Computacenter, Belimo, EQT
BUZZ-Top of the Street: Umicore, Computacenter, Belimo, EQT A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** Berenberg cuts Belgian battery materials maker Umicore UMI.BR to "hold" from "buy" as shares approach its target price of €23.20, and warns that the company's earnings may sequentially decelerate on the back of weaker demand
** Peel Hunt downgrades British technology and services provider Computacenter CCC.L to "add" from "buy" as it believes the market is already pricing in a significant beat vs consensus, with risk/reward from current share price leading to a lower rating
** Jefferies cuts Swiss heating and ventilation solutions maker Belimo BEAN.S to "hold" from "buy" as, in its view, data centre market-related risks outweigh upside potential
INITIATIONS AND REINSTATEMENTS
** Barclays reinstates Swedish private equity firm EQT EQTAB.ST with "equal-weight" — while it trades above its longer-term multiples, the broker sees better value elsewhere in the private capital sector
(*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 Tiago Brandao and Agnieszka Olenska)
((Tiago.Brandao@thomsonreuters.com; Agnieszka.Olenska@thomsonreuters.com))