Top of the Street: Mining equipment makers, Givaudan, Vestas, Convatec
BUZZ-Top of the Street: Mining equipment makers, Givaudan, Vestas, Convatec A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** Morgan Stanley cuts Swiss fragrance and flavour maker Givaudan GIVN.S to "underweight" from "equal-weight", citing below-peer growth prospects in its taste and wellbeing division
** Berenberg raises Danish wind turbine maker Vestas Wind Systems VWS.CO to "buy" from "hold" after its "exceptional" Q2 earnings beat and guidance hike, citing solid European order momentum and growth visibility
INITIATIONS AND REINSTATEMENTS
** Berenberg starts coverage of Swedish mining equipment makers Epiroc EPIRa.ST and Sandvik SAND.ST with "hold", saying upstream order momentum is largely reflected in current valuations
** In the same note, it initiates Finnish peer Metso METSO.HE with "buy", identifying a promising upside from potential acceleration in downstream orders
** Kepler Cheuvreux starts British medical equipment maker Convatec CTEC.L with "buy", citing an undemanding valuation and broader post-InnovaMatrix growth; it sees 2027 offering clearer visibility on sales and capex
(*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 Olivier Cherfan and Marta Maciag)